Y Intercept Hong Kong Ltd Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Y Intercept Hong Kong Ltd purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,815 shares of the electric vehicle producer's stock, valued at approximately $2,025,000.

Several other institutional investors have also recently made changes to their positions in the stock. VSM Wealth Advisory LLC increased its position in shares of Tesla by 17.1% during the 1st quarter. VSM Wealth Advisory LLC now owns 1,320 shares of the electric vehicle producer's stock worth $342,000 after purchasing an additional 193 shares during the last quarter. Financial Sense Advisors Inc. increased its position in shares of Tesla by 60.4% during the 1st quarter. Financial Sense Advisors Inc. now owns 68,558 shares of the electric vehicle producer's stock worth $17,767,000 after purchasing an additional 25,820 shares during the last quarter. Oakwell Private Wealth Management LLC acquired a new position in shares of Tesla during the 1st quarter worth approximately $249,000. Flynn Zito Capital Management LLC increased its position in shares of Tesla by 6.1% during the 1st quarter. Flynn Zito Capital Management LLC now owns 3,266 shares of the electric vehicle producer's stock worth $846,000 after purchasing an additional 188 shares during the last quarter. Finally, PFG Advisors increased its position in shares of Tesla by 4.4% during the 1st quarter. PFG Advisors now owns 11,005 shares of the electric vehicle producer's stock worth $2,852,000 after purchasing an additional 468 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Up 3.5%

Shares of TSLA stock traded up $10.76 during trading hours on Friday, hitting $316.06. 147,437,834 shares of the company's stock traded hands, compared to its average volume of 90,285,424. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.02 trillion, a PE ratio of 182.69, a price-to-earnings-growth ratio of 12.00 and a beta of 2.39. The stock's 50 day simple moving average is $324.70 and its 200 day simple moving average is $314.09.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on TSLA shares. JPMorgan Chase & Co. decreased their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Barclays decreased their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Canaccord Genuity Group boosted their target price on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday. Bank of America upped their price target on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Guggenheim reiterated a "sell" rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday. Ten 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 stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $302.75.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. The trade was a 75.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was 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. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 over the last ninety days. Insiders own 20.70% of the company's stock.

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.