MKT Advisors LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

MKT Advisors LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,012 shares of the electric vehicle producer’s stock after purchasing an additional 93 shares during the quarter. MKT Advisors LLC’s holdings in Tesla were worth $262,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TSLA. Norges Bank acquired a new stake in shares of Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC boosted its position in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC grew its holdings in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC increased its position in shares of Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after buying an additional 5,719,466 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 870,721 shares of company stock valued at $286,248,728 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TSLA shares. Canaccord Genuity Group dropped their price target on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Roth Mkm reduced their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Benchmark reiterated a “buy” rating and set a $350.00 price objective on shares of Tesla in a research note on Wednesday, April 23rd. Finally, Mizuho raised their target price on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Ten equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $293.97.

Tesla Stock Down 14.3%

NASDAQ:TSLA opened at $284.68 on Friday. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. 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’s fifty day moving average is $291.63 and its two-hundred day moving average is $333.97. The stock has a market capitalization of $916.94 billion, a price-to-earnings ratio of 139.55, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the company posted $0.45 EPS. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla 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.