Bailard Inc. Has $3.04 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Bailard Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.1% during the 1st quarter, HoldingsChannel reports. The fund owned 11,746 shares of the electric vehicle producer’s stock after purchasing an additional 238 shares during the quarter. Bailard Inc.’s holdings in Tesla were worth $3,044,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Eagle Capital Management LLC bought a new stake in shares of Tesla during the 4th quarter valued at about $331,000. Brighton Jones LLC boosted its holdings in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC lifted its stake in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of Tesla in the fourth quarter worth about $346,000. Finally, Highview Capital Management LLC DE bought a new stake in Tesla during the 4th quarter valued at approximately $2,367,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. Baird R W lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. The Goldman Sachs Group cut their price objective on shares of Tesla from $315.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Raymond James Financial cut shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Finally, Argus restated a “hold” rating on shares of Tesla in a report on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $300.19.

Tesla Trading Down 0.7%

Shares of TSLA stock opened at $319.41 on Friday. The firm has a market capitalization of $1.03 trillion, a P/E ratio of 175.50, a price-to-earnings-growth ratio of 9.80 and a beta of 2.39. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $325.64 and its 200 day simple moving average is $317.81. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results 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 net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm posted $0.45 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.