Catalina Capital Group LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Catalina Capital Group LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 199.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,942 shares of the electric vehicle producer’s stock after buying an additional 3,955 shares during the quarter. Catalina Capital Group LLC’s holdings in Tesla were worth $1,044,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TSLA. Wyrmwood Management LLC purchased a new position in Tesla in the fourth quarter worth about $25,000. Lam Group Inc. purchased a new position in shares of Tesla in the fourth quarter worth approximately $25,000. Mendota Financial Group LLC grew its position in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the fourth quarter valued at approximately $37,000. Finally, Kathleen S. Wright Associates Inc. raised its holdings in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA stock traded up $0.93 during midday trading on Wednesday, reaching $263.26. The stock had a trading volume of 127,980,891 shares, compared to its average volume of 98,692,945. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The firm has a fifty day simple moving average of $188.52 and a two-hundred day simple moving average of $190.90. The stock has a market cap of $839.59 billion, a PE ratio of 67.16, a P/E/G ratio of 6.27 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 released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $22.15 billion. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.86 EPS for the current year.

Insider Transactions at Tesla

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

Analysts Set New Price Targets

A number of brokerages have commented on TSLA. Royal Bank of Canada reduced their price target on Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. TD Cowen raised their target price on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. HSBC upped their price target on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research note on Monday, June 10th. Finally, Morgan Stanley reissued an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Wednesday. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $195.39.

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.