Sherman Asset Management Inc. Purchases 347 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sherman Asset Management Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 9.6% during the first quarter, Holdings Channel reports. The fund owned 3,966 shares of the electric vehicle producer’s stock after acquiring an additional 347 shares during the period. Tesla comprises approximately 1.0% of Sherman Asset Management Inc.’s investment portfolio, making the stock its 20th biggest position. Sherman Asset Management Inc.’s holdings in Tesla were worth $1,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in Tesla in the 4th quarter worth approximately $56,600,000. Strategic Family Wealth Counselors L.L.C. raised its stake in Tesla by 133.7% during the fourth 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 in the last quarter. Harvard Management Co. Inc. purchased a new position in shares of Tesla in the 4th quarter worth $8,158,000. Vontobel Holding Ltd. increased its holdings in shares of Tesla by 23.0% in the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after buying an additional 60,342 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Tesla by 451.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 285,121 shares of the electric vehicle producer’s stock valued at $115,143,000 after acquiring an additional 233,460 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,950 shares in the company, valued at approximately $682,500. The trade was a 33.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares of the company’s stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 815,945 shares of company stock worth $273,059,215 in the last three months. 20.70% of the stock is owned by insiders.

Tesla Trading Up 3.7%

NASDAQ TSLA opened at $295.14 on Monday. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market capitalization of $950.63 billion, a price-to-earnings ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company’s 50-day simple moving average is $292.17 and its two-hundred day simple moving average is $333.51.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations 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 previous year, the business earned $0.45 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on TSLA shares. Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Royal Bank of Canada decreased 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. HSBC lowered their price target on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research report on Thursday, March 27th. Finally, Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the company a “buy” rating in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $294.27.

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.