Inscription Capital LLC Purchases New Shares in Tesla, Inc. (NASDAQ:TSLA)

Inscription Capital LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the first quarter, HoldingsChannel.com reports. The fund acquired 7,415 shares of the electric vehicle producer’s stock, valued at approximately $1,922,000.

Other hedge funds have also modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Tesla during the 4th quarter valued at approximately $56,600,000. Focus Financial Network Inc. lifted its holdings in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its holdings in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. purchased a new stake in shares of Tesla during the fourth quarter worth about $8,158,000. Finally, Vontobel Holding Ltd. raised its position in shares of Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after purchasing an additional 60,342 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA stock opened at $329.13 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market cap of $1.06 trillion, a P/E ratio of 161.34, a P/E/G ratio of 5.86 and a beta of 2.47. The firm’s 50 day moving average price is $301.53 and its 200-day moving average price is $332.77. Tesla, Inc. has a one year low of $177.00 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS 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 firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the company earned $0.45 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research analyst reports. BNP Paribas set a $137.00 price objective on Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. Guggenheim reaffirmed a “sell” rating on shares of Tesla in a research note on Friday. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Raymond James cut shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company dropped their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $293.67.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla 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 completion of the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 in the last three months. 20.70% of the stock is owned by company insiders.

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.