Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 176.5% in the first quarter, Holdings Channel reports. The institutional investor owned 1,963 shares of the electric vehicle producer’s stock after buying an additional 1,253 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Tesla were worth $509,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. True Wealth Design LLC lifted its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Horrell Capital Management Inc. raised its stake 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 purchasing an additional 34 shares in the last quarter. GS Investments Inc. raised its stake in shares of 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 in the last quarter. Navigoe LLC bought a new stake in Tesla in the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent analyst reports. Canaccord Genuity Group cut their price objective on Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Wedbush restated an “outperform” rating and set a $500.00 price objective (up previously from $350.00) on shares of Tesla in a report on Friday, May 23rd. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Barclays lowered their target price on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Finally, Roth Mkm lowered their target price on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned 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 $293.97.

Tesla Stock Down 14.3%

Shares of NASDAQ TSLA opened at $284.68 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market cap of $916.94 billion, a P/E ratio of 139.55, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The firm has a 50-day simple moving average of $291.63 and a two-hundred day simple moving average of $333.97.

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

Insider Activity

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction 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. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 870,721 shares of company stock valued at $286,248,728. Corporate insiders own 20.70% of the company’s stock.

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.