Pathstone Holdings LLC Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Pathstone Holdings LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 476,437 shares of the electric vehicle producer’s stock after purchasing an additional 7,807 shares during the period. Tesla makes up approximately 0.9% of Pathstone Holdings LLC’s holdings, making the stock its 18th largest holding. Pathstone Holdings LLC’s holdings in Tesla were worth $192,645,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Horrell Capital Management Inc. grew its stake in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. boosted its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the period. Navigoe LLC bought a new position in Tesla during the 4th quarter worth approximately $37,000. CoreFirst Bank & Trust purchased a new position in Tesla in the 4th quarter worth approximately $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in Tesla in the fourth quarter valued at approximately $39,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Joseph Gebbia bought 4,000 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was acquired at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the acquisition, the director now owns 4,111 shares of the company’s stock, valued at approximately $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the sale, the chief financial officer now owns 23,084 shares in the company, valued at approximately $6,833,325.68. The trade was a 20.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 412,623 shares of company stock worth $115,600,501 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent analyst reports. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Canaccord Genuity Group cut their price target on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Roth Mkm decreased their price objective on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a report on Tuesday, April 22nd. Finally, Raymond James downgraded Tesla to an “outperform” rating in a report on Tuesday, April 22nd. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $287.46.

Tesla Price Performance

TSLA stock opened at $334.07 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a 50 day moving average price of $260.85 and a 200-day moving average price of $328.28. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The firm has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 163.76, a PEG ratio of 5.86 and a beta of 2.43.

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 company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the business earned $0.45 EPS. Equities research analysts forecast 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.