Millstone Evans Group LLC Invests $172,000 in Tesla, Inc. (NASDAQ:TSLA)

Millstone Evans Group LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 426 shares of the electric vehicle producer’s stock, valued at approximately $172,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB lifted its stake in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the period. United Bank acquired a new stake in shares of Tesla during the third quarter worth $287,000. Advisors Asset Management Inc. increased its position in shares of Tesla by 0.9% during the third quarter. Advisors Asset Management Inc. now owns 8,972 shares of the electric vehicle producer’s stock worth $2,347,000 after buying an additional 80 shares during the period. Finally, Integrated Investment Consultants LLC acquired a new stake in shares of Tesla during the third quarter worth $280,000. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Benchmark assumed coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Stifel Nicolaus reduced their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $404.00 price target on shares of Tesla in a report on Monday, March 17th. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $318.93.

Tesla Stock Performance

Shares of TSLA stock opened at $248.71 on Friday. The firm has a market cap of $799.98 billion, a price-to-earnings ratio of 121.92, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm’s 50-day simple moving average is $335.19 and its two-hundred day simple moving average is $320.44.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.