GG Group Ventures LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

GG Group Ventures LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 785 shares of the electric vehicle producer’s stock, valued at approximately $317,000.

Other institutional investors also recently bought and sold shares of the company. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. lifted its stake in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the period. Navigoe LLC purchased a new stake in shares of Tesla during the 4th quarter valued at about $37,000. CoreFirst Bank & Trust bought a new stake in shares of Tesla in the fourth quarter worth approximately $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Tesla during the fourth quarter valued at approximately $39,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. 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. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a “buy” rating in a research report on Thursday, April 24th. Mizuho lowered their target price on Tesla from $375.00 to $325.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Canaccord Genuity Group cut their price target on Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Argus set a $410.00 price objective on shares of Tesla in a research note on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $287.46.

Tesla Stock Up 2.2 %

Shares of NASDAQ:TSLA opened at $292.03 on Wednesday. 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 business’s 50 day moving average is $261.24 and its 200 day moving average is $323.87. The stock has a market cap of $940.62 billion, a P/E ratio of 143.15, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the prior year, the business posted $0.45 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.