Capital Asset Advisory Services LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Capital Asset Advisory Services LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.4% during the first quarter, Holdings Channel reports. The firm owned 20,396 shares of the electric vehicle producer’s stock after purchasing an additional 4,130 shares during the period. Capital Asset Advisory Services LLC’s holdings in Tesla were worth $3,363,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Norges Bank purchased a new position in shares of Tesla during the fourth quarter worth approximately $7,844,757,000. International Assets Investment Management LLC grew its position in shares of Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after acquiring an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares during the last quarter. Morgan Stanley grew its position in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Tesla by 2,101.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after buying an additional 1,402,443 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of analyst reports. UBS Group lowered their price objective on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Monday, June 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 price objective on shares of Tesla in a research report on Monday. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $187.30.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders sold 104,855 shares of company stock worth $19,285,643 in the last 90 days. 25.10% of the stock is owned by company insiders.

Tesla Price Performance

TSLA stock traded up $0.46 during trading on Friday, hitting $197.88. The stock had a trading volume of 94,899,325 shares, compared to its average volume of 95,329,102. The company’s 50 day moving average price is $175.83 and its two-hundred day moving average price is $192.28. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29. The stock has a market cap of $631.08 billion, a price-to-earnings ratio of 50.03, a price-to-earnings-growth ratio of 4.87 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. On average, sell-side analysts forecast that Tesla, Inc. will post 1.87 EPS for the current fiscal year.

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.