Capital Advantage Inc. Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Capital Advantage Inc. bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 844 shares of the electric vehicle producer’s stock, valued at approximately $341,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Horrell Capital Management Inc. increased its stake 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. raised its holdings in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC bought a new position in shares of Tesla during the fourth quarter worth $37,000. CoreFirst Bank & Trust acquired a new position in shares of Tesla in the 4th quarter valued at $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Tesla in the 4th quarter valued at $39,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $280.26 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The firm has a market capitalization of $902.71 billion, a P/E ratio of 137.38, a P/E/G ratio of 5.86 and a beta of 2.43. The company’s 50 day moving average price is $258.60 and its two-hundred day moving average price is $326.33.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the business earned $0.45 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the sale, the chief financial officer now directly owns 23,084 shares in the company, valued at approximately $6,833,325.68. This trade represents a 20.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total value of $32,096,336.20. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $24,274,300. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 371,228 shares of company stock worth $111,181,034. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on TSLA shares. Guggenheim restated a “sell” rating and issued a $170.00 price target on shares of Tesla in a report on Thursday, April 24th. Glj Research restated a “sell” rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Bank of America reduced their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $287.46.

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.