Sanders Morris Harris LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Sanders Morris Harris LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 74.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,105 shares of the electric vehicle producer's stock after acquiring an additional 2,175 shares during the quarter. Sanders Morris Harris LLC's holdings in Tesla were worth $1,323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Tesla during the 4th quarter worth $14,420,248,000. FMR LLC grew its position in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Strategic Financial Concepts LLC grew its position in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Tesla by 4,963.0% during the 4th 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 buying an additional 5,719,466 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA traded down $3.77 during mid-day trading on Monday, reaching $342.69. 81,499,066 shares of the stock were exchanged, compared to its average volume of 98,086,870. The business's 50 day moving average is $286.92 and its 200-day moving average is $334.13. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a market capitalization of $1.10 trillion, a P/E ratio of 167.99, a P/E/G ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the company posted $0.45 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TSLA. Wells Fargo & Company dropped their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. BNP Paribas set a $137.00 price objective on Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Cantor Fitzgerald decreased their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Raymond James cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, Morgan Stanley restated a "buy" rating and set a $430.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $293.97.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the 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 transaction, the director now directly owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction 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 transaction, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 866,393 shares of company stock valued at $284,570,654. Corporate insiders own 20.70% of the company's stock.

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.