Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Crestone Asset Management LLC

Crestone Asset Management LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,241 shares of the electric vehicle producer’s stock after purchasing an additional 143 shares during the period. Crestone Asset Management LLC’s holdings in Tesla were worth $308,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TSLA. Wyrmwood Management LLC bought a new position in Tesla during the 4th quarter valued at $25,000. Lam Group Inc. bought a new stake in shares of Tesla in the 4th quarter valued at approximately $25,000. Mendota Financial Group LLC lifted its stake in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. boosted its holdings in Tesla by 111.1% in 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 during the period. Finally, Cordant Inc. acquired a new stake in shares of Tesla during the third quarter worth $53,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 302,803 shares of company stock valued at $56,124,840 in the last ninety days. 20.90% of the stock is owned by insiders.

Tesla Trading Down 1.7 %

Shares of NASDAQ:TSLA traded down $3.09 during midday trading on Wednesday, hitting $174.72. The company had a trading volume of 79,780,180 shares, compared to its average volume of 103,846,883. The firm has a fifty day simple moving average of $173.12 and a 200 day simple moving average of $204.32. The stock has a market cap of $557.22 billion, a price-to-earnings ratio of 44.57, a PEG ratio of 4.74 and a beta of 2.41. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent research reports. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Wednesday, April 17th. Redburn Atlantic assumed coverage on shares of Tesla in a research note on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price target on the stock. Mizuho decreased their price objective on Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Jefferies Financial Group cut their target price on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Finally, Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $185.90.

About Tesla

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.