Tributary Capital Management LLC Acquires 610 Shares of Tesla, Inc. (NASDAQ:TSLA)

Tributary Capital Management LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 69.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,485 shares of the electric vehicle producer’s stock after purchasing an additional 610 shares during the period. Tributary Capital Management LLC’s holdings in Tesla were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rinkey Investments lifted its position in Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC lifted its stake in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its stake in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares in the last quarter. Aldebaran Financial Inc. raised its stake in shares of Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer’s stock worth $490,000 after purchasing an additional 35 shares in the last quarter. Finally, Acorn Wealth Advisors LLC increased its holdings in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after acquiring an additional 36 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TSLA shares. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a “buy” rating in a research report on Thursday, April 24th. Cfra Research cut Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Mizuho lowered their price objective on Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. The Goldman Sachs Group lowered their price objective on Tesla from $315.00 to $285.00 and set a “neutral” rating on the stock in a research report on Friday, July 11th. Finally, Guggenheim reissued a “sell” rating and set a $175.00 target price on shares of Tesla in a report on Tuesday, July 8th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $300.19.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director directly owned 85,000 shares of the company’s stock, valued at $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares of the company’s stock, valued at $664,989. This represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Stock Down 0.7%

Shares of NASDAQ TSLA opened at $319.41 on Friday. The firm has a market cap of $1.03 trillion, a price-to-earnings ratio of 175.50, a PEG ratio of 9.80 and a beta of 2.39. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The business’s 50 day moving average is $325.64 and its two-hundred day moving average is $317.81.

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). The company had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the prior year, the company posted $0.45 EPS. Research 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.