Oakworth Capital Inc. Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Oakworth Capital Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,368 shares of the electric vehicle producer’s stock after buying an additional 62 shares during the period. Oakworth Capital Inc.’s holdings in Tesla were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla during the 4th quarter valued at $56,600,000. Means Investment CO. Inc. boosted its stake in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. boosted its stake in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. boosted its stake in Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in Tesla during the 4th quarter valued at $8,158,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wedbush reiterated an “outperform” rating and set a $500.00 target price on shares of Tesla in a research note on Friday, June 20th. Benchmark reissued a “buy” rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday. Glj Research reissued a “sell” rating and set a $19.05 price target (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Royal Bank Of Canada lowered their price target on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $298.37.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director now owns 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $323.63 on Friday. The stock has a market cap of $1.04 trillion, a PE ratio of 177.82, a P/E/G ratio of 12.18 and a beta of 2.47. The business’s 50-day simple moving average is $314.93 and its two-hundred day simple moving average is $330.48. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the previous year, the business earned $0.45 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.