Thoroughbred Financial Services LLC Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Thoroughbred Financial Services LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,791 shares of the electric vehicle producer's stock after buying an additional 1,856 shares during the period. Thoroughbred Financial Services LLC's holdings in Tesla were worth $6,943,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Eagle Capital Management LLC purchased a new position in shares of Tesla during the 4th quarter valued at $331,000. Brighton Jones LLC lifted its position 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 valued at $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in shares of Tesla during the fourth quarter worth about $346,000. Finally, Highview Capital Management LLC DE bought a new stake in Tesla during the 4th quarter valued at approximately $2,367,000. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value 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. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 606,724 shares of company stock valued at $215,376,831 in the last ninety days. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of Tesla stock opened at $309.26 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock's fifty day moving average price is $321.62 and its 200-day moving average price is $309.49. The firm has a market cap of $997.50 billion, a P/E ratio of 178.76, a P/E/G ratio of 10.63 and a beta of 2.33. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The firm's revenue was down 11.8% on a year-over-year basis. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TSLA shares. JPMorgan Chase & Co. dropped their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. HSBC reissued a "reduce" rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Finally, Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $303.31.

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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