Cascade Investment Advisors Inc. Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Cascade Investment Advisors Inc. grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,320 shares of the electric vehicle producer’s stock after acquiring an additional 220 shares during the period. Cascade Investment Advisors Inc.’s holdings in Tesla were worth $935,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. WealthPlan Investment Management LLC grew its holdings in shares of Tesla by 20,641.9% during the 3rd quarter. WealthPlan Investment Management LLC now owns 12,860 shares of the electric vehicle producer’s stock worth $3,218,000 after acquiring an additional 12,798 shares during the period. Machina Capital S.A.S. purchased a new stake in shares of Tesla in the 3rd quarter worth approximately $209,000. Syon Capital LLC purchased a new stake in shares of Tesla in the 3rd quarter worth approximately $624,000. Main Street Research LLC grew its stake in shares of Tesla by 0.5% in the 3rd quarter. Main Street Research LLC now owns 12,804 shares of the electric vehicle producer’s stock worth $3,204,000 after buying an additional 64 shares during the last quarter. Finally, Regent Peak Wealth Advisors LLC boosted its stake in Tesla by 3.6% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 24,971 shares of the electric vehicle producer’s stock valued at $6,248,000 after purchasing an additional 867 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock traded down $6.37 during trading on Thursday, reaching $173.74. 71,774,822 shares of the stock traded hands, compared to its average volume of 100,884,477. The company has a market capitalization of $554.09 billion, a price-to-earnings ratio of 44.32, a P/E/G ratio of 4.58 and a beta of 2.41. The business has a fifty day simple moving average of $171.38 and a two-hundred day simple moving average of $201.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Sell-side analysts expect that Tesla, Inc. will post 1.89 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, April 12th. Cantor Fitzgerald assumed coverage on Tesla in a report on Thursday, May 2nd. They set an “overweight” rating and a $230.00 price target on the stock. KGI Securities reissued a “neutral” rating and set a $213.00 price target (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Guggenheim reissued a “sell” rating and set a $122.00 price target on shares of Tesla in a report on Tuesday, April 23rd. Finally, TD Cowen lowered their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $185.90.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was 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 directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last quarter, insiders sold 209,097 shares of company stock worth $37,877,471. Corporate insiders own 25.10% of the company’s stock.

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.