Connecticut Capital Management Group LLC Takes Position in Tesla, Inc. $TSLA

Connecticut Capital Management Group LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,341 shares of the electric vehicle producer’s stock, valued at approximately $603,000.

Several other hedge funds also recently made changes to their positions in TSLA. Networth Advisors LLC purchased a new position in shares of Tesla in the fourth quarter valued at $26,000. Chapman Financial Group LLC purchased a new stake in Tesla in the 2nd quarter worth approximately $26,000. Davidson Capital Management Inc. lifted its stake in Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Prism Advisors Inc. purchased a new stake in Tesla in the 4th quarter worth approximately $30,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in Tesla in the 3rd quarter worth approximately $30,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $440.36 on Thursday. The company’s fifty day moving average price is $390.12 and its 200-day moving average price is $416.18. The firm has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 404.00, a PEG ratio of 17.12 and a beta of 1.79. Tesla, Inc. has a one year low of $273.21 and a one year high of $498.83. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the transaction, the director owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the chief financial officer directly owned 18,106 shares in the company, valued at approximately $8,147,700. This represents a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 57,482 shares of company stock worth $21,508,331. 19.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. Tigress Financial began coverage on shares of Tesla in a research note on Monday, April 27th. They issued a “buy” rating on the stock. Morgan Stanley set a $415.00 target price on shares of Tesla and gave the stock an “equal weight” rating in a research note on Thursday, January 29th. BNP Paribas Exane upgraded shares of Tesla from an “underperform” rating to a “neutral” rating in a research note on Monday, April 27th. Barclays reiterated a “neutral” rating on shares of Tesla in a research note on Wednesday, May 13th. Finally, Robert W. Baird decreased their price target on shares of Tesla from $538.00 to $522.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Nineteen investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $395.20.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s European sales momentum appears to be improving, with multiple reports citing April registrations up sharply year over year and suggesting the EV business is regaining traction after a long slump. Tesla Logs Strong Growth in European Monthly Sales
• Positive Sentiment: Wall Street is also focusing on Tesla’s robotaxi and Optimus opportunities, with coverage saying a new patent could protect future revenue drivers and that the stock is approaching a technical breakout setup. Tesla Patent Could Protect Two Biggest Future Revenue Drivers: Here’s Why ‘Lens Cleaning System’ May Matter
• Positive Sentiment: Renewed speculation around a possible SpaceX-Tesla tie-up is adding excitement, with reports and commentary suggesting the rumored SpaceX IPO could become a major long-term catalyst for Tesla shareholders. SpaceX-Tesla merger chatter reignites as Musk pushes rocket company towards Nasdaq

Tesla Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.