Breakwater Capital Group Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Breakwater Capital Group grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,639 shares of the electric vehicle producer’s stock after acquiring an additional 182 shares during the period. Breakwater Capital Group’s holdings in Tesla were worth $684,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla in the fourth quarter valued at $56,600,000. Stephens Consulting LLC grew its stake in Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after acquiring an additional 891 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. increased its holdings in Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after acquiring an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. acquired a new position in Tesla during the fourth quarter worth about $8,158,000. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock valued at $130,158,000 after purchasing an additional 60,342 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction 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 sale, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 870,721 shares of company stock worth $286,248,728. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $284.68 on Friday. The firm’s fifty day simple moving average is $291.63 and its 200 day simple moving average is $333.97. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The firm has a market capitalization of $916.94 billion, a price-to-earnings ratio of 139.55, a PEG ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research reports. Raymond James downgraded Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Cowen raised Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a “buy” rating in a research note on Thursday, April 24th. HSBC cut their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. Finally, Mizuho raised their price target on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $293.97.

Check Out Our Latest Research Report on TSLA

Tesla Company Profile

(Free Report)

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.

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