Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Ring Mountain Capital LLC

Ring Mountain Capital LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 39.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,360 shares of the electric vehicle producer's stock after purchasing an additional 2,920 shares during the period. Tesla makes up approximately 2.0% of Ring Mountain Capital LLC's holdings, making the stock its 13th biggest position. Ring Mountain Capital LLC's holdings in Tesla were worth $2,685,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank increased its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla during the first quarter worth about $27,000. Finally, True Wealth Design LLC raised its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TSLA. Canaccord Genuity Group reissued a "buy" rating and issued a $303.00 price target on shares of Tesla in a research report on Monday, June 30th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research report on Friday, June 6th. Mizuho reduced their price target on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Cantor Fitzgerald lowered their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $300.19.

Insider Activity at Tesla

In other news, 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 completion of the sale, the director owned 855,394 shares of the company's stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the firm'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 transaction, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Up 2.9%

Shares of NASDAQ:TSLA opened at $328.57 on Friday. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 180.55, a PEG ratio of 9.80 and a beta of 2.39. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The company has a 50 day moving average price of $325.64 and a 200 day moving average price of $317.81.

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

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