Cache Advisors LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Cache Advisors LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 20,954 shares of the electric vehicle producer’s stock, valued at approximately $8,462,000. Tesla makes up about 3.2% of Cache Advisors LLC’s portfolio, making the stock its 9th largest holding.

A number of other large investors have also added to or reduced their stakes in TSLA. True Wealth Design LLC raised its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. raised its holdings in Tesla by 75.6% during the 4th 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 period. GS Investments Inc. boosted 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 worth $36,000 after buying an additional 58 shares during the period. Navigoe LLC bought a new position in Tesla during the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the fourth quarter valued at $38,000. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 23,084 shares in the company, valued at approximately $6,833,325.68. This represents a 20.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of TSLA opened at $339.34 on Friday. The company has a 50 day moving average of $277.33 and a two-hundred day moving average of $332.69. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 166.34, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54.

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

Analysts Set New Price Targets

TSLA has been the subject of a number of recent analyst reports. Glj Research reaffirmed a “sell” rating and set a $19.05 price target (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Morgan Stanley restated a “buy” rating and set a $430.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. Robert W. Baird decreased their price target on Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. 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. Finally, Benchmark reiterated a “buy” rating and set a $350.00 target price on shares of Tesla in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $293.97.

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.