Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Proffitt & Goodson Inc.

Proffitt & Goodson Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13,568.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,187 shares of the electric vehicle producer's stock after purchasing an additional 2,171 shares during the period. Proffitt & Goodson Inc.'s holdings in Tesla were worth $567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eagle Capital Management LLC bought a new position in Tesla in the 4th quarter worth about $331,000. Brighton Jones LLC lifted its holdings in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in Tesla in the 4th quarter worth approximately $346,000. Finally, Highview Capital Management LLC DE bought a new stake in Tesla in the fourth quarter worth $2,367,000. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on TSLA shares. UBS Group set a $290.00 price target on Tesla in a research report on Monday, June 30th. Guggenheim restated a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Monday, June 23rd. Oppenheimer reissued a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Robert W. Baird reiterated a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Finally, Benchmark reaffirmed a "buy" rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $301.60.

Tesla Stock Down 6.8%

TSLA traded down $21.41 on Monday, reaching $293.94. The company's stock had a trading volume of 130,417,797 shares, compared to its average volume of 101,044,397. The stock has a 50 day moving average of $320.93 and a two-hundred day moving average of $324.35. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $946.77 billion, a price-to-earnings ratio of 161.51, a P/E/G ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period last year, the company earned $0.45 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director owned 85,000 shares of the company's stock, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 829,509 shares of company stock worth $277,648,925 over the last 90 days. 20.70% of the stock is owned by corporate 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.