Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Cascades Capital Asset Management LLC

Cascades Capital Asset Management LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,392 shares of the electric vehicle producer’s stock after purchasing an additional 50 shares during the quarter. Cascades Capital Asset Management LLC’s holdings in Tesla were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. grew its position in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after acquiring an additional 194,796 shares during the last quarter. United Bank acquired a new position in Tesla during the 3rd quarter valued at about $287,000. Quarry LP grew its position in Tesla by 184.7% in the 3rd quarter. Quarry LP now owns 689 shares of the electric vehicle producer’s stock worth $180,000 after purchasing an additional 447 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Tesla by 4.4% in the third quarter. Stifel Financial Corp now owns 516,398 shares of the electric vehicle producer’s stock valued at $135,106,000 after purchasing an additional 21,727 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Tesla during the third quarter valued at approximately $690,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TSLA. JPMorgan Chase & Co. decreased their price objective on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a report on Wednesday, March 12th. Mizuho decreased their price target on Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Cantor Fitzgerald restated an “overweight” rating and set a $425.00 price objective on shares of Tesla in a research note on Thursday. Glj Research reiterated a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Finally, StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $312.65.

Tesla Trading Down 10.4 %

NASDAQ:TSLA opened at $239.43 on Friday. The stock’s 50-day moving average is $305.98 and its two-hundred day moving average is $322.90. 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 stock has a market cap of $770.13 billion, a PE ratio of 117.37, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now 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. Over the last ninety days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 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.