Platform Technology Partners Has $3.88 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Platform Technology Partners increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 32.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,956 shares of the electric vehicle producer's stock after purchasing an additional 3,657 shares during the period. Tesla accounts for 1.1% of Platform Technology Partners' investment portfolio, making the stock its 17th biggest position. Platform Technology Partners' holdings in Tesla were worth $3,876,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSLA. True Wealth Design LLC boosted its position in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the period. GS Investments Inc. boosted its position in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the period. Navigoe LLC purchased a new stake in shares of Tesla in the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. HSBC reaffirmed a "reduce" rating and set a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. Guggenheim reaffirmed a "sell" rating and set a $175.00 target price on shares of Tesla in a report on Tuesday, July 8th. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Finally, Benchmark reissued a "buy" rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus target price of $300.19.

Tesla Stock Performance

TSLA traded down $6.12 on Tuesday, hitting $310.78. 77,018,663 shares of the stock traded hands, compared to its average volume of 99,422,104. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.00 trillion, a PE ratio of 170.76, a P/E/G ratio of 9.33 and a beta of 2.39. The business has a fifty day moving average price of $323.33 and a two-hundred day moving average price of $318.52.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is owned by company insiders.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.