Fluent Financial LLC Makes New $750,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Fluent Financial LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,265 shares of the electric vehicle producer’s stock, valued at approximately $750,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares during the last quarter. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter worth approximately $7,844,757,000. Morgan Stanley grew its stake in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Tesla by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after buying an additional 458,804 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Tesla Trading Up 6.5 %

TSLA opened at $246.39 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average is $180.89 and its two-hundred day moving average is $190.93. The company has a market capitalization of $785.79 billion, a P/E ratio of 62.85, a PEG ratio of 5.74 and a beta of 2.31. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Analysts forecast that Tesla, Inc. will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TSLA. Morgan Stanley reiterated an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Thursday, June 20th. Evercore ISI cut their target price on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research note on Monday, April 29th. The Goldman Sachs Group reissued a “neutral” rating and set a $175.00 price target on shares of Tesla in a report on Wednesday. Roth Mkm reissued a “neutral” rating and set a $85.00 price target on shares of Tesla in a report on Wednesday, April 24th. Finally, Guggenheim increased their price target on Tesla from $126.00 to $134.00 and gave the company a “sell” rating in a report on Wednesday. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $189.47.

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.