Coastal Investment Advisors Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,932 shares of the electric vehicle producer’s stock after buying an additional 170 shares during the period. Tesla comprises 1.5% of Coastal Investment Advisors Inc.’s investment portfolio, making the stock its 11th biggest holding. Coastal Investment Advisors Inc.’s holdings in Tesla were worth $7,470,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of TSLA. Paragon Capital Management Ltd purchased a new position in Tesla in the 4th quarter valued at approximately $25,000. AllSquare Wealth Management LLC increased its stake in Tesla by 766.7% in the 4th quarter. AllSquare Wealth Management LLC now owns 26 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 23 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in Tesla in the 4th quarter valued at approximately $31,000. Kathleen S. Wright Associates Inc. purchased a new position in Tesla in the 4th quarter valued at approximately $32,000. Finally, Industrial Alliance Investment Management Inc. purchased a new position in Tesla in the 4th quarter valued at approximately $32,000. 40.64% of the stock is owned by institutional investors and hedge funds.
TSLA has been the subject of several recent research reports. Tudor Pickering raised Tesla from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. Barclays raised their price target on Tesla from $325.00 to $370.00 and gave the stock an “underweight” rating in a research report on Friday, June 10th. TheStreet raised Tesla from a “c+” rating to a “b-” rating in a research report on Wednesday, April 27th. Exane BNP Paribas dropped their price target on Tesla from $700.00 to $600.00 and set an “underperform” rating for the company in a research report on Wednesday, May 18th. Finally, Morgan Stanley dropped their price target on Tesla from $1,300.00 to $1,200.00 in a research report on Wednesday. Eight research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $894.73.
Tesla (NASDAQ:TSLA – Get Rating) last issued its earnings results on Wednesday, April 20th. The electric vehicle producer reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $1.22. Tesla had a return on equity of 28.11% and a net margin of 13.51%. The company had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $17.84 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. Tesla’s quarterly revenue was up 80.5% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 10.25 EPS for the current fiscal year.
In other news, CAO Vaibhav Taneja sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $1,141.94, for a total transaction of $1,484,522.00. Following the completion of the transaction, the chief accounting officer now directly owns 25,985 shares in the company, valued at $29,673,310.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Andrew D. Baglino sold 433 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $718.31, for a total value of $311,028.23. Following the transaction, the senior vice president now owns 20,567 shares of the company’s stock, valued at $14,773,481.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 416,669 shares of company stock valued at $369,312,309. 25.00% of the stock is currently owned by insiders.
About Tesla (Get Rating)
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.
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