Capital Management Associates Inc Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Capital Management Associates Inc increased its position in Tesla, Inc. (NASDAQ:TSLA) by 6.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,128 shares of the electric vehicle producer’s stock after buying an additional 65 shares during the period. Capital Management Associates Inc’s holdings in Tesla were worth $456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Carnegie Investment Counsel raised its stake in shares of Tesla by 29.6% during the 3rd quarter. Carnegie Investment Counsel now owns 6,630 shares of the electric vehicle producer’s stock valued at $1,735,000 after buying an additional 1,515 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Tesla by 18.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,489 shares of the electric vehicle producer’s stock valued at $651,000 after buying an additional 384 shares during the last quarter. CX Institutional raised its stake in shares of Tesla by 2.4% during the 3rd quarter. CX Institutional now owns 60,211 shares of the electric vehicle producer’s stock valued at $15,753,000 after buying an additional 1,435 shares during the last quarter. Wesbanco Bank Inc. raised its stake in shares of Tesla by 399.8% during the 3rd quarter. Wesbanco Bank Inc. now owns 30,074 shares of the electric vehicle producer’s stock valued at $7,868,000 after buying an additional 24,057 shares during the last quarter. Finally, Creative Planning raised its stake in shares of Tesla by 28.3% during the 3rd quarter. Creative Planning now owns 896,484 shares of the electric vehicle producer’s stock valued at $221,677,000 after buying an additional 197,839 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 6.3 %

Shares of NASDAQ TSLA opened at $328.50 on Wednesday. The firm has a market cap of $1.06 trillion, a price-to-earnings ratio of 161.03, a PEG ratio of 6.22 and a beta of 2.34. 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, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The business’s 50 day moving average is $408.14 and its two-hundred day moving average is $305.46.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Research analysts predict that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 635,776 shares of company stock worth $231,335,112. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group raised their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. UBS Group raised their target price on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday. Jefferies Financial Group raised their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Finally, Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $321.71.

Tesla 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.