Naples Money Management LLC Acquires New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Naples Money Management LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,379 shares of the electric vehicle producer’s stock, valued at approximately $343,000.

Several other large investors also recently made changes to their positions in the company. Axiom Financial Strategies LLC increased its stake in Tesla by 9.8% during the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after buying an additional 81 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after purchasing an additional 164,789 shares in the last quarter. MAS Advisors LLC lifted its position in Tesla by 25.7% in the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after purchasing an additional 81 shares during the period. Ergoteles LLC boosted its stake in Tesla by 33.4% during the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after purchasing an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Tesla by 6.8% during the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after purchasing an additional 4,593 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Wednesday. JPMorgan Chase & Co. cut their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Citigroup decreased their price target on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft cut Tesla from a “buy” rating to a “hold” rating and dropped their price target for the company from $189.00 to $123.00 in a report on Thursday. Ten research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $194.70.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Down 1.9 %

Shares of NASDAQ:TSLA traded down $2.88 during midday trading on Friday, hitting $147.05. 86,914,652 shares of the stock were exchanged, compared to its average volume of 101,650,617. The company has a market capitalization of $468.32 billion, a PE ratio of 34.14, a P/E/G ratio of 4.11 and a beta of 2.39. Tesla, Inc. has a 52-week low of $146.22 and a 52-week high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The business’s fifty day simple moving average is $179.45 and its two-hundred day simple moving average is $212.21.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the business earned $1.07 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

About Tesla

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.