Thoroughbred Financial Services LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Thoroughbred Financial Services LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 40.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,935 shares of the electric vehicle producer's stock after buying an additional 7,190 shares during the period. Thoroughbred Financial Services LLC's holdings in Tesla were worth $10,069,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after purchasing an additional 194,796 shares in the last quarter. United Bank acquired a new stake in shares of Tesla in the third quarter valued at approximately $287,000. Janus Henderson Group PLC boosted its position in Tesla by 4.6% during the 3rd quarter. Janus Henderson Group PLC now owns 444,091 shares of the electric vehicle producer's stock worth $116,184,000 after acquiring an additional 19,342 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Tesla in the 3rd quarter valued at about $13,516,000. Finally, Mission Creek Capital Partners Inc. increased its stake in shares of Tesla by 18.9% during the third quarter. Mission Creek Capital Partners Inc. now owns 2,202 shares of the electric vehicle producer's stock valued at $576,000 after acquiring an additional 350 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Benchmark initiated coverage on Tesla in a research note on Wednesday, February 12th. They issued a "buy" rating and a $475.00 price objective on the stock. Bank of America cut their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Canaccord Genuity Group reiterated a "buy" rating and issued a $404.00 target price on shares of Tesla in a report on Monday, March 17th. Robert W. Baird reduced their target price on shares of Tesla from $440.00 to $370.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Finally, UBS Group dropped their price target on Tesla from $259.00 to $225.00 and set a "sell" rating on the stock in a report on Monday, March 10th. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $305.31.

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Tesla Stock Performance

NASDAQ:TSLA traded down $10.74 during mid-day trading on Monday, hitting $228.69. The stock had a trading volume of 110,308,387 shares, compared to its average volume of 94,352,562. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market cap of $735.59 billion, a price-to-earnings ratio of 111.61, a PEG ratio of 5.86 and a beta of 2.58. The company's 50 day simple moving average is $305.98 and its 200 day simple moving average is $324.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 370,228 shares of company stock valued at $122,791,123. 20.70% of the stock is currently owned by corporate insiders.

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.