2,960 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Range Financial Group LLC

Range Financial Group LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,960 shares of the electric vehicle producer's stock, valued at approximately $767,000.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Tesla during the 4th quarter valued at about $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. GAMMA Investing LLC lifted its stake in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $7.32 during midday trading on Thursday, reaching $319.11. 104,392,972 shares of the stock were exchanged, compared to its average volume of 100,678,704. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.03 trillion, a price-to-earnings ratio of 156.43, a PEG ratio of 5.86 and a beta of 2.47. The firm has a 50-day simple moving average of $295.60 and a two-hundred day simple moving average of $333.11. Tesla, Inc. has a twelve month low of $169.80 and a twelve month 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). The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the firm posted $0.45 EPS. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Roth Mkm lowered their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Guggenheim reissued a "sell" rating and set a $170.00 price objective on shares of Tesla in a research report on Thursday, April 24th. BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group cut their price target on shares of Tesla from $295.00 to $285.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $293.67.

Insider Transactions 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 shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,564 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the transaction, the chief financial officer now owns 5,924 shares in the company, valued at $1,692,546.04. This trade represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock valued at $273,791,775 over the last 90 days. Corporate insiders own 20.70% of the company's stock.

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.