Prime Capital Investment Advisors LLC acquired a new position in Tesla Inc (NASDAQ:TSLA) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,320 shares of the electric vehicle producer’s stock, valued at approximately $1,769,000.
A number of other large investors have also recently added to or reduced their stakes in the business. BKS Advisors LLC increased its position in shares of Tesla by 40.7% during the 1st quarter. BKS Advisors LLC now owns 4,138 shares of the electric vehicle producer’s stock valued at $1,158,000 after purchasing an additional 1,196 shares during the last quarter. Pennsylvania Trust Co bought a new position in shares of Tesla during the 1st quarter valued at approximately $1,177,000. Flagship Harbor Advisors LLC increased its position in shares of Tesla by 26.0% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,532 shares of the electric vehicle producer’s stock valued at $708,000 after purchasing an additional 522 shares during the last quarter. WP Advisors LLC bought a new position in shares of Tesla during the 1st quarter valued at approximately $38,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Tesla during the 1st quarter valued at $5,307,000. 59.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of TSLA stock traded up $6.98 during mid-day trading on Tuesday, hitting $273.36. The stock had a trading volume of 7,266,538 shares, compared to its average volume of 8,678,668. Tesla Inc has a 12-month low of $247.77 and a 12-month high of $387.46. The stock has a market capitalization of $46.24 billion, a price-to-earnings ratio of -47.79, a P/E/G ratio of 6.06 and a beta of 0.35. The company has a current ratio of 0.83, a quick ratio of 0.52 and a debt-to-equity ratio of 1.63.
TSLA has been the subject of a number of recent analyst reports. Goldman Sachs Group restated a “sell” rating and set a $225.00 price objective on shares of Tesla in a report on Tuesday, December 18th. BidaskClub cut Tesla from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. KeyCorp restated a “hold” rating on shares of Tesla in a report on Thursday, December 20th. Zacks Investment Research cut Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, December 31st. Finally, Royal Bank of Canada dropped their price objective on Tesla from $340.00 to $290.00 and set a “sector perform” rating for the company in a report on Wednesday, January 2nd. Fifteen analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $315.41.
In other Tesla news, insider Jerome M. Guillen sold 1,000 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $305.42, for a total value of $305,420.00. Following the completion of the sale, the insider now directly owns 8,860 shares in the company, valued at approximately $2,706,021.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Antonio J. Gracias sold 16,780 shares of the company’s stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $348.22, for a total value of $5,843,131.60. Following the sale, the director now owns 17,018 shares of the company’s stock, valued at $5,926,007.96. The disclosure for this sale can be found here. Insiders sold a total of 114,820 shares of company stock valued at $34,419,006 over the last quarter. Company insiders own 22.80% of the company’s stock.
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Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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