Millstone Evans Group LLC Buys Shares of 426 Tesla, Inc. (NASDAQ:TSLA)

Millstone Evans Group LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 426 shares of the electric vehicle producer’s stock, valued at approximately $172,000.

A number of other hedge funds have also recently made changes to their positions in TSLA. Swedbank AB lifted its holdings in shares of Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after acquiring an additional 29,669 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Tesla by 5.6% in the 3rd 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 bought a new stake in shares of Tesla in the 3rd quarter worth approximately $287,000. Advisors Asset Management Inc. raised its holdings in Tesla by 0.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 8,972 shares of the electric vehicle producer’s stock valued at $2,347,000 after buying an additional 80 shares during the last quarter. Finally, Integrated Investment Consultants LLC bought a new stake in Tesla during the 3rd quarter valued at $280,000. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Mizuho lowered their price target on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a report on Monday, March 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Finally, New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $318.93.

Tesla Stock Performance

Shares of TSLA stock opened at $248.71 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company’s 50-day moving average is $335.19 and its 200 day moving average is $320.44. The company has a market capitalization of $799.98 billion, a price-to-earnings ratio of 121.92, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts expect that Tesla, Inc. will post 2.56 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.