Kings Path Partners LLC Purchases Shares of 1,100 Tesla, Inc. (NASDAQ:TSLA)

Kings Path Partners LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,100 shares of the electric vehicle producer’s stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. True Wealth Design LLC raised its stake in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 31 shares during the last quarter. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. lifted its stake in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC bought a new stake in shares of Tesla during the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla during the fourth quarter worth approximately $38,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ TSLA opened at $358.43 on Friday. The company has a market capitalization of $1.15 trillion, a PE ratio of 175.70, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. 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, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a 50-day simple moving average of $285.70 and a 200 day simple moving average of $333.80.

Tesla (NASDAQ:TSLA) last released its earnings results 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 company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the prior year, the company earned $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now owns 855,394 shares of the company’s stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the sale, the director now owns 85,000 shares in the company, valued at $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 984,783 shares of company stock worth $320,019,942 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Cfra Research lowered shares of Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Raymond James downgraded shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Finally, Wall Street Zen downgraded Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $293.97.

Tesla 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.