GG Group Ventures LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

GG Group Ventures LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 785 shares of the electric vehicle producer’s stock, valued at approximately $317,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hengehold Capital Management LLC boosted its stake in Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares in the last quarter. Strategic Investment Advisors MI lifted its stake in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after buying an additional 24 shares during the period. Acropolis Investment Management LLC grew its holdings in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after buying an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD raised its stake in Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Vista Finance LLC grew its stake in Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSLA. HSBC decreased their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. Guggenheim reaffirmed a “sell” rating and issued a $170.00 price objective on shares of Tesla in a report on Thursday, April 24th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a report on Monday, January 6th. Roth Mkm lowered their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, BNP Paribas set a $137.00 price objective on Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $287.46.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock valued at $123,791,123 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Up 2.2 %

Shares of NASDAQ TSLA opened at $292.03 on Wednesday. The firm has a 50-day moving average price of $261.24 and a 200 day moving average price of $323.87. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $940.62 billion, a price-to-earnings ratio of 143.15, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54.

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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the firm earned $0.45 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS 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.