Principal Securities Inc. Buys New Position in Tesla, Inc. (NASDAQ:TSLA)

Principal Securities Inc. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 28,763 shares of the electric vehicle producer's stock, valued at approximately $7,147,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Wyrmwood Management LLC bought a new position in shares of Tesla in the 4th quarter valued at about $25,000. Lam Group Inc. acquired a new position in shares of Tesla during the 4th quarter worth approximately $25,000. Mendota Financial Group LLC raised its stake in shares of Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer's stock worth $34,000 after purchasing an additional 91 shares in the last quarter. Kathleen S. Wright Associates Inc. boosted its holdings in shares of Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer's stock valued at $47,000 after buying an additional 100 shares during the last quarter. Finally, Cordant Inc. bought a new position in shares of Tesla in the third quarter valued at $53,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $3.50 during midday trading on Friday, hitting $168.47. The stock had a trading volume of 72,359,349 shares, compared to its average volume of 108,584,360. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $537.28 billion, a P/E ratio of 42.98, a price-to-earnings-growth ratio of 4.84 and a beta of 2.41. The company's 50-day moving average price is $171.97 and its 200-day moving average price is $203.89. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company's stock, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares of the company's stock, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the business's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold 302,803 shares of company stock valued at $56,124,840 over the last three months. 20.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Sanford C. Bernstein cut their price target on shares of Tesla from $150.00 to $120.00 and set an "underperform" rating for the company in a research note on Tuesday, March 26th. UBS Group reduced their price target on Tesla from $160.00 to $147.00 and set a "neutral" rating for the company in a report on Wednesday, April 24th. Evercore ISI dropped their price objective on Tesla from $155.00 to $145.00 and set an "in-line" rating on the stock in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $123.00 to $136.00 and gave the stock a "hold" rating in a research note on Thursday, April 25th. Finally, Cantor Fitzgerald assumed coverage on Tesla in a research note on Thursday, May 2nd. They issued an "overweight" rating and a $230.00 price target on the stock. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $185.90.

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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