Bristlecone Advisors LLC Invests $221,000 in Tesla Inc. (TSLA)

Bristlecone Advisors LLC purchased a new stake in shares of Tesla Inc. (NASDAQ:TSLA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 795 shares of the electric vehicle producer’s stock, valued at approximately $221,000.

Other large investors have also bought and sold shares of the company. Perigon Wealth Management LLC boosted its stake in Tesla by 4.5% in the fourth quarter. Perigon Wealth Management LLC now owns 7,951 shares of the electric vehicle producer’s stock valued at $2,000,000 after buying an additional 341 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Tesla by 9.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 290,524 shares of the electric vehicle producer’s stock valued at $62,082,000 after buying an additional 25,012 shares in the last quarter. Norges Bank bought a new position in Tesla during the fourth quarter valued at about $94,658,000. United Capital Financial Advisers LLC raised its stake in shares of Tesla by 49.6% in the fourth quarter. United Capital Financial Advisers LLC now owns 5,374 shares of the electric vehicle producer’s stock worth $1,148,000 after buying an additional 1,782 shares during the period. Finally, Cigna Investments Inc. New acquired a new stake in shares of Tesla during the fourth quarter worth $254,000. 63.75% of the stock is owned by institutional investors.

Shares of Tesla Inc. (NASDAQ TSLA) opened at 319.57 on Tuesday. The company’s market cap is $52.49 billion. Tesla Inc. has a 52 week low of $178.19 and a 52 week high of $386.99. The firm’s 50-day moving average price is $346.84 and its 200 day moving average price is $283.13.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $1.30. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.56 billion. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%. On average, equities research analysts forecast that Tesla Inc. will post ($5.86) EPS for the current year.

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A number of analysts recently commented on TSLA shares. J P Morgan Chase & Co lifted their price objective on Tesla from $185.00 to $190.00 and gave the stock an “underweight” rating in a research report on Monday, May 8th. Goldman Sachs Group, Inc. (The) set a $190.00 target price on Tesla and gave the stock a “sell” rating in a report on Monday, May 15th. Guggenheim raised their target price on Tesla from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Morgan Stanley cut Tesla from an “overweight” rating to an “equal weight” rating and set a $305.00 price objective on the stock. in a report on Monday, May 15th. Finally, Vetr cut Tesla from a “sell” rating to a “strong sell” rating and set a $231.01 target price on the stock. in a research note on Monday, March 27th. Eight investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $294.15.

In other news, Director Robyn M. Denholm sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $311.76, for a total value of $6,235,200.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $6,235,200. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 2,500 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $315.67, for a total transaction of $789,175.00. Following the sale, the director now owns 168,355 shares in the company, valued at $53,144,622.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 242,290 shares of company stock worth $74,919,505. 23.10% of the stock is currently owned by corporate insiders.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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