EMC Capital Management Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

EMC Capital Management lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 200.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,500 shares of the electric vehicle producer’s stock after buying an additional 1,000 shares during the period. EMC Capital Management’s holdings in Tesla were worth $249,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lam Group Inc. purchased a new position in shares of Tesla in the 4th quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla in the 4th quarter worth $37,000. Guardian Wealth Management Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at about $47,000. Kathleen S. Wright Associates Inc. raised its holdings in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. Finally, A.P. Gilfoyle & Co. L.P. acquired a new position in Tesla during the 4th quarter worth approximately $50,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on TSLA shares. Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, July 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price target on shares of Tesla in a research note on Thursday. TD Cowen raised their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Finally, Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Wednesday, April 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $204.30.

Tesla Price Performance

NASDAQ TSLA traded down $9.19 on Friday, reaching $207.67. 82,565,335 shares of the stock traded hands, compared to its average volume of 100,901,094. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $209.45 and its 200 day simple moving average is $191.15. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The company has a market cap of $663.43 billion, a price-to-earnings ratio of 53.36, a P/E/G ratio of 6.00 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 160,719 shares of company stock worth $32,032,968. 25.10% of the stock is owned by insiders.

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.