Procyon Advisors LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Procyon Advisors LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,170 shares of the electric vehicle producer’s stock after buying an additional 231 shares during the quarter. Procyon Advisors LLC’s holdings in Tesla were worth $8,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Synergy Financial Group LTD raised its holdings in shares of Tesla by 7.3% during the 2nd quarter. Synergy Financial Group LTD now owns 6,432 shares of the electric vehicle producer’s stock worth $1,684,000 after acquiring an additional 438 shares in the last quarter. New Republic Capital LLC purchased a new position in shares of Tesla in the 2nd quarter worth $429,000. Oak Ridge Investments LLC increased its holdings in shares of Tesla by 4.6% in the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after buying an additional 1,405 shares during the last quarter. Charter Oak Capital Management LLC raised its position in shares of Tesla by 8.9% during the 3rd quarter. Charter Oak Capital Management LLC now owns 1,271 shares of the electric vehicle producer’s stock valued at $318,000 after buying an additional 104 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Tesla by 14.4% in the 3rd quarter. CWM LLC now owns 146,740 shares of the electric vehicle producer’s stock valued at $36,717,000 after acquiring an additional 18,462 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA traded down $3.22 on Thursday, reaching $176.61. 16,357,528 shares of the stock were exchanged, compared to its average volume of 101,620,773. Tesla, Inc. has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The firm has a market capitalization of $562.47 billion, a PE ratio of 41.72, a PEG ratio of 4.01 and a beta of 2.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The company’s 50-day moving average price is $188.49 and its 200 day moving average price is $222.36.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the prior year, the company earned $1.07 EPS. Tesla’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.44 EPS for the current fiscal year.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 198,598 shares of company stock valued at $36,952,434 in the last three months. 20.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent research reports. Citigroup decreased their price objective on Tesla from $224.00 to $196.00 and set a “neutral” rating on the stock in a research report on Wednesday. Morgan Stanley restated an “overweight” rating and set a $320.00 price target on shares of Tesla in a report on Wednesday. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Monday. Canaccord Genuity Group reduced their target price on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Finally, Jefferies Financial Group cut their price target on shares of Tesla from $225.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, January 29th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $204.63.

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.