Tesla, Inc. (NASDAQ:TSLA) Position Lifted by Next Century Growth Investors LLC

Next Century Growth Investors LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 175.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 18,931 shares of the electric vehicle producer’s stock after purchasing an additional 12,047 shares during the period. Next Century Growth Investors LLC’s holdings in Tesla were worth $7,645,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TSLA. Horrell Capital Management Inc. increased its holdings in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. increased its stake in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the fourth quarter worth $38,000. Delos Wealth Advisors LLC lifted its position in shares of Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after buying an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new position in shares of Tesla in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Cantor Fitzgerald restated an “overweight” rating and set a $425.00 price objective on shares of Tesla in a research report on Thursday, April 3rd. HSBC dropped their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Wedbush lowered their price target on shares of Tesla from $550.00 to $315.00 and set an “outperform” rating for the company in a research report on Monday, April 7th. Finally, New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a report on Monday, January 6th. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $298.59.

Tesla Stock Performance

TSLA stock opened at $251.96 on Friday. The stock has a market cap of $810.42 billion, a P/E ratio of 123.51, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a 50 day simple moving average of $285.19 and a 200 day simple moving average of $323.09. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. The trade was a 12.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is owned by corporate insiders.

Tesla Company 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.