Vega Investment Solutions Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Vega Investment Solutions bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,000 shares of the electric vehicle producer's stock, valued at approximately $808,000.

Several other hedge funds also recently modified their holdings of the business. True Wealth Design LLC raised its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. raised its holdings in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. raised its holdings in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC acquired a new stake in Tesla in the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla in the fourth quarter worth $38,000. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $25,466,850. The trade was a 56.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the sale, the chief financial officer now directly owns 23,084 shares of the company's stock, valued at $6,833,325.68. The trade was a 20.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 415,623 shares of company stock valued at $116,650,831. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of TSLA opened at $341.04 on Friday. The firm has a 50-day moving average of $275.05 and a 200-day moving average of $332.09. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company has a market cap of $1.10 trillion, a PE ratio of 167.18, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the firm posted $0.45 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Guggenheim reiterated a "sell" rating and issued a $170.00 target price on shares of Tesla in a report on Thursday, April 24th. Cantor Fitzgerald cut their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Finally, Mizuho raised their price objective on shares of Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Ten 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $289.43.

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.

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