Profit Investment Management LLC increased its position in Tesla, Inc. (NASDAQ: TSLA – Get Rating) by 60.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,908 shares of the electric vehicle producer’s stock after buying an additional 719 shares during the period. Tesla comprises approximately 1.3% of Profit Investment Management LLC’s holdings, making its stock its 29th largest position. Profit Investment Management LLC’s holdings in Tesla were worth $ 2,054,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of TSLA. Sawyer & Company Inc boosted its holdings in shares of Tesla by 2.0% during the 4th quarter. Sawyer & Company Inc now owns 515 shares of the electric vehicle producer’s stock valued at $ 544,000 after purchasing an additional 10 shares during the last quarter. Norway Savings Bank raised its position in shares of Tesla by 40.0% during the 4th quarter. Norway Savings Bank now owns 35 shares of the electric vehicle producer’s stock valued at $ 37,000 after buying an additional 10 shares in the last quarter. Breiter Capital Management Inc. raised its position in shares of Tesla by 1.3% during the 4th quarter. Breiter Capital Management Inc. now owns 794 shares of the electric vehicle producer’s stock valued at $ 839,000 after buying an additional 10 shares in the last quarter. Crescent Capital Consulting LLC raised its position in shares of Tesla by 27.8% during the 4th quarter. Crescent Capital Consulting LLC now owns 46 shares of the electric vehicle producer’s stock valued at $ 868,000 after buying an additional 10 shares in the last quarter. Finally, Searle & CO. raised its position in shares of Tesla by 1.0% during the 4th quarter. Searle & CO. now owns 990 shares of the electric vehicle producer’s stock valued at $ 1,046,000 after buying an additional 10 shares in the last quarter. 40.64% of the stock is owned by institutional investors.
TSLA has been the topic of several recent research reports. StockNews.com initiated coverage on shares of Tesla in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Credit Suisse Group reduced their price target on shares of Tesla from $ 1,125.00 to $ 1,000.00 and set an “outperform” rating on the stock in a research report on Friday, June 24th. UBS Group upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $ 1,100.00 target price on the stock in a research note on Thursday, June 9th. Tudor Pickering upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Tuesday, May 17th. Finally, Wells Fargo & Company dropped their objective price on shares of Tesla from $ 960.00 to $ 900.00 in a research note on Wednesday, May 11th. Eight analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $ 883.92.
In other news, SVP Andrew D. Baglino sold 5,000 shares of Tesla stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $ 875.23, for a total value of $ 4,376,150.00. Following the sale, the senior vice president now owns 20,138 shares in the company, valued at $ 17,625,381.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 3,500 shares of the business’s stock in a transaction dated Wednesday, April 27th. The stock was sold at an average price of $ 899.42, for a total transaction of $ 3,147,970.00. Following the transaction, the senior vice president now owns 20,138 shares in the company, valued at $ 18,112,519.96. The disclosure for this sale can be found here. Insiders sold 416,669 shares of company stock valued at $ 368,203,194 in the last ninety days. 25.10% of the stock is owned by corporate insiders.
TSLA opened at $ 685.47 on Thursday. Tesla, Inc. has a fifty-two week low of $ 620.46 and a fifty-two week high of $ 1,243.49. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.35. The company has a fifty day moving average of $ 761.54 and a two-hundred day moving average of $ 891.49. The stock has a market capitalization of $ 710.41 billion, a price-to-earnings ratio of 93.01, a PEG ratio of 2.40 and a beta of 2.13.
Tesla (NASDAQ: TSLA – Get Rating) last released its quarterly earnings data on Wednesday, April 20th. The electric vehicle producer reported $ 2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $ 1.64 by $ 1.22. Tesla had a net margin of 13.51% and a return on equity of 28.11%. The company had revenue of $ 18.76 billion during the quarter, compared to analysts’ expectations of $ 17.84 billion. During the same quarter in the previous year, the company earned $ 0.39 earnings per share. The firm’s revenue for the quarter was up 80.5% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 10.25 earnings per share for the current year.
About Tesla: (Get Rating)
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.
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