Prossimo Advisors LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Prossimo Advisors LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,082 shares of the electric vehicle producer’s stock after buying an additional 91 shares during the period. Prossimo Advisors LLC’s holdings in Tesla were worth $1,058,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Eagle Capital Management LLC bought a new position in Tesla during the fourth quarter worth about $331,000. Brighton Jones LLC boosted its holdings in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its stake in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after buying an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in Tesla during the 4th quarter valued at $346,000. Finally, Highview Capital Management LLC DE purchased a new stake in shares of Tesla during the fourth quarter worth $2,367,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $316.06 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $324.70 and a 200-day moving average price of $314.65. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 182.69, a price-to-earnings-growth ratio of 11.59 and a beta of 2.39. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company’s stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Robert W. Baird reiterated a “neutral” rating and issued a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Thursday. Cfra Research downgraded shares of Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Guggenheim reaffirmed a “sell” rating and set a $175.00 price objective on shares of Tesla in a research note on Wednesday. Finally, Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $302.75.

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.