Prospect Hill Management LLC Acquires 1,269 Shares of Tesla, Inc. (NASDAQ:TSLA)

Prospect Hill Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,291 shares of the electric vehicle producer's stock after buying an additional 1,269 shares during the quarter. Tesla accounts for 13.5% of Prospect Hill Management LLC's portfolio, making the stock its 2nd largest position. Prospect Hill Management LLC's holdings in Tesla were worth $25,991,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Vanguard Group Inc. lifted its stake in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC lifted its holdings in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after buying an additional 1,655,203 shares during the period. Norges Bank purchased a new position in shares of Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC raised its position in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TSLA shares. The Goldman Sachs Group dropped their price objective on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Royal Bank Of Canada reduced their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Mizuho cut their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. JPMorgan Chase & Co. dropped their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $300.19.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $10.24 on Friday, hitting $329.65. 93,904,102 shares of the company were exchanged, compared to its average volume of 98,929,970. The stock's 50 day moving average price is $326.27 and its 200 day moving average price is $316.70. The firm has a market capitalization of $1.06 trillion, a P/E ratio of 181.13, a price-to-earnings-growth ratio of 12.56 and a beta of 2.39. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54.

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 analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the previous year, the firm posted $0.45 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company Profile

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.