McIlrath & Eck LLC Has $1.70 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

McIlrath & Eck LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,207 shares of the electric vehicle producer’s stock after buying an additional 806 shares during the quarter. McIlrath & Eck LLC’s holdings in Tesla were worth $1,699,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. lifted its stake in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC bought a new stake in shares of Tesla during the 4th quarter worth about $37,000. Finally, CoreFirst Bank & Trust acquired a new position in Tesla in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TSLA shares. Canaccord Genuity Group cut their price objective on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. BNP Paribas set a $137.00 price target on Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 23rd. Wedbush reiterated an “outperform” rating and set a $350.00 price objective on shares of Tesla in a research report on Thursday, May 1st. Finally, Raymond James cut shares of Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $289.43.

Tesla Stock Performance

Shares of Tesla stock opened at $343.82 on Wednesday. The company’s 50 day moving average price is $271.29 and its two-hundred day moving average price is $331.39. The firm has a market capitalization of $1.11 trillion, a P/E ratio of 168.54, a P/E/G ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $22.93 billion. During the same quarter in the prior year, the business posted $0.45 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the transaction, the chief financial officer now directly owns 23,084 shares in the company, valued at approximately $6,833,325.68. This represents a 20.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 415,623 shares of company stock worth $116,650,831 in the last quarter. 20.70% of the stock is owned by insiders.

Tesla Company 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.