GKV Capital Management Co. Inc. Invests $646,000 in Tesla, Inc. (NASDAQ:TSLA)

GKV Capital Management Co. Inc. bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,600 shares of the electric vehicle producer’s stock, valued at approximately $646,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Strategic Investment Solutions Inc. IL lifted its stake in shares of Tesla by 12.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 5,439 shares of the electric vehicle producer’s stock worth $2,068,000 after purchasing an additional 581 shares during the period. First Commonwealth Financial Corp PA purchased a new position in Tesla during the fourth quarter worth about $1,301,000. Capital Square LLC boosted its stake in Tesla by 8.0% in the 4th quarter. Capital Square LLC now owns 880 shares of the electric vehicle producer’s stock worth $358,000 after buying an additional 65 shares during the last quarter. Farringdon Capital Ltd. purchased a new stake in Tesla in the 4th quarter valued at about $455,000. Finally, Greenwood Gearhart Inc. increased its stake in shares of Tesla by 3.4% during the 4th quarter. Greenwood Gearhart Inc. now owns 39,605 shares of the electric vehicle producer’s stock valued at $15,994,000 after acquiring an additional 1,299 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 4.9 %

Shares of NASDAQ TSLA opened at $241.55 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $277.86 and its two-hundred day moving average price is $322.47. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market capitalization of $776.95 billion, a P/E ratio of 118.41, a PEG ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results 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 net margin of 7.26% and a return on equity of 10.31%. On average, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSLA. Truist Financial lowered their target price on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. Evercore ISI boosted their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Wells Fargo & Company cut their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a research report on Monday, January 6th. Finally, Guggenheim reduced their price target on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research report on Wednesday, March 12th. Nine research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $292.18.

Insider Transactions at Tesla

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