Ables Iannone Moore & Associates Inc. Takes $776,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Ables Iannone Moore & Associates Inc. bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,124 shares of the electric vehicle producer’s stock, valued at approximately $776,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. bought a new position in shares of Tesla during the 3rd quarter valued at approximately $14,050,000. WINTON GROUP Ltd increased its stake in Tesla by 58.0% in the third quarter. WINTON GROUP Ltd now owns 4,152 shares of the electric vehicle producer’s stock worth $1,039,000 after purchasing an additional 1,524 shares during the period. Plan Group Financial LLC purchased a new stake in Tesla in the third quarter worth $225,000. Sargent Investment Group LLC increased its stake in shares of Tesla by 22.3% during the third quarter. Sargent Investment Group LLC now owns 3,044 shares of the electric vehicle producer’s stock valued at $762,000 after buying an additional 555 shares during the period. Finally, Qtron Investments LLC increased its stake in shares of Tesla by 12.6% during the third quarter. Qtron Investments LLC now owns 28,400 shares of the electric vehicle producer’s stock valued at $7,106,000 after buying an additional 3,189 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent analyst reports. UBS Group lowered 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. Guggenheim reissued a “sell” rating and issued a $122.00 price objective on shares of Tesla in a research note on Tuesday, April 23rd. Evercore ISI cut their target price on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday, April 29th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $185.90.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $187.44 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $173.19 and its 200-day moving average price is $194.61. The firm has a market capitalization of $597.78 billion, a P/E ratio of 47.82, a P/E/G ratio of 4.41 and a beta of 2.32. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Equities research analysts anticipate that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock valued at $19,285,643 in the last quarter. Insiders own 20.90% of the company’s stock.

Tesla 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.