Tesla, Inc. (NASDAQ:TSLA) Stock Position Lifted by Five Oceans Advisors

Five Oceans Advisors grew its position in Tesla, Inc. (NASDAQ:TSLA) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,906 shares of the electric vehicle producer’s stock after acquiring an additional 60 shares during the quarter. Tesla makes up approximately 0.6% of Five Oceans Advisors’ holdings, making the stock its 28th largest position. Five Oceans Advisors’ holdings in Tesla were worth $1,271,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new position in Tesla during the 4th quarter worth $56,600,000. Focus Financial Network Inc. boosted its holdings in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after acquiring an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. grew its position in shares of Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after acquiring an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. bought a new stake in Tesla in the 4th quarter valued at about $8,158,000. Finally, Vontobel Holding Ltd. boosted its stake in Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock valued at $130,158,000 after purchasing an additional 60,342 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLA. Royal Bank of Canada cut their price target on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Guggenheim reiterated a “sell” rating on shares of Tesla in a research report on Friday. Barclays lowered their price target on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Wedbush set a $500.00 price objective on shares of Tesla in a report on Thursday, June 5th. Finally, Baird R W lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $293.67.

Tesla Price Performance

NASDAQ TSLA opened at $329.13 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 161.34, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a 50 day simple moving average of $301.53 and a 200-day simple moving average of $332.77. Tesla, Inc. has a 52-week low of $177.00 and a 52-week high of $488.54.

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

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares of the company’s stock, valued at $682,500. This trade represents a 33.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 833,509 shares of company stock worth $278,648,925. Corporate insiders own 20.70% of the company’s stock.

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.