Requisite Capital Management LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Requisite Capital Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,495 shares of the electric vehicle producer’s stock, valued at approximately $906,000.

Other institutional investors have also recently bought and sold shares of the company. Wealth Group Ltd. acquired a new stake in shares of Tesla in the 4th quarter valued at $275,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Tesla in the 4th quarter valued at $1,361,000. Tallon Kerry Patrick acquired a new stake in shares of Tesla in the 4th quarter valued at $374,000. Eagle Capital Management LLC acquired a new position in Tesla during the 4th quarter worth about $331,000. Finally, Brighton Jones LLC lifted its position in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on TSLA shares. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. UBS Group reduced their price target on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and upped their price target for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Mizuho boosted their price objective on Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Ten analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $293.67.

Tesla Price Performance

Shares of TSLA opened at $308.58 on Tuesday. The stock has a market capitalization of $993.92 billion, a P/E ratio of 151.27, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a 50 day moving average of $292.68 and a 200-day moving average of $333.20. 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 (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for 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 prior year, the business earned $0.45 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.