Viking Fund Management LLC Has $1.04 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Viking Fund Management LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,000 shares of the electric vehicle producer's stock after buying an additional 1,000 shares during the period. Viking Fund Management LLC's holdings in Tesla were worth $1,037,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wealth Group Ltd. bought a new stake in Tesla in the 4th quarter valued at $275,000. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Tesla in the 4th quarter worth approximately $1,361,000. Tallon Kerry Patrick purchased a new stake in Tesla in the fourth quarter valued at about $374,000. Eagle Capital Management LLC purchased a new stake in Tesla during the 4th quarter worth approximately $331,000. Finally, Brighton Jones LLC raised its holdings in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity

In related news, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $7,242,273.50. This represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 866,393 shares of company stock worth $284,570,654. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

NASDAQ:TSLA traded down $12.22 during mid-day trading on Wednesday, reaching $332.05. 97,758,015 shares of the stock were exchanged, compared to its average volume of 98,371,050. The business has a fifty day moving average price of $289.75 and a 200 day moving average price of $334.35. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The firm has a market capitalization of $1.07 trillion, a PE ratio of 162.77, a PEG ratio of 5.86 and a beta of 2.47.

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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the firm posted $0.45 EPS. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TSLA shares. Roth Mkm decreased their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Mizuho boosted their price objective on Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Truist Financial set a $280.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. Guggenheim reiterated a "sell" rating and set a $170.00 price target on shares of Tesla in a research report on Thursday, April 24th. Finally, Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Ten investment 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $293.97.

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.