Piedmont Investment Advisors Inc. boosted its stake in shares of Tesla Inc (NASDAQ:TSLA) by 0.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 10,060 shares of the electric vehicle producer’s stock after acquiring an additional 93 shares during the period. Piedmont Investment Advisors Inc.’s holdings in Tesla were worth $2,815,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Mackey Komara & Dankovich LLC boosted its position in shares of Tesla by 493.3% during the 1st quarter. Mackey Komara & Dankovich LLC now owns 89 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 74 shares in the last quarter. Sontag Advisory LLC acquired a new position in shares of Tesla during the 4th quarter worth about $26,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Tesla during the 1st quarter worth about $28,000. Intercontinental Wealth Advisors LLC acquired a new position in shares of Tesla during the 4th quarter worth about $30,000. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Tesla during the 4th quarter worth about $32,000. Institutional investors own 57.70% of the company’s stock.

TSLA has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $450.00 price objective on shares of Tesla in a research report on Wednesday, March 27th. Oppenheimer upped their target price on Tesla from $418.00 to $437.00 and gave the company an “outperform” rating in a research report on Thursday, January 31st. Wedbush cut Tesla from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $365.00 to $275.00 in a research report on Thursday, April 25th. Berenberg Bank set a $500.00 target price on Tesla and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Canaccord Genuity raised Tesla from a “hold” rating to a “buy” rating and upped their target price for the company from $330.00 to $450.00 in a research report on Monday, February 11th. Seventeen equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. Tesla presently has a consensus rating of “Hold” and a consensus price target of $291.00.

In other news, Director Brad W. Buss sold 38,540 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $228.37, for a total transaction of $8,801,379.80. Following the completion of the transaction, the director now directly owns 34,874 shares of the company’s stock, valued at approximately $7,964,175.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeffrey B. Straubel sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $316.95, for a total value of $4,754,250.00. Following the transaction, the insider now directly owns 321,398 shares of the company’s stock, valued at $101,867,096.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,100 shares of company stock valued at $30,574,286. Company insiders own 22.80% of the company’s stock.

TSLA opened at $190.63 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.83 and a debt-to-equity ratio of 1.79. The company has a market cap of $33.12 billion, a price-to-earnings ratio of -33.33 and a beta of 0.27. Tesla Inc has a 52 week low of $186.22 and a 52 week high of $387.46.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, April 24th. The electric vehicle producer reported ($4.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.51) by ($1.59). The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Tesla had a negative net margin of 4.29% and a negative return on equity of 18.23%. The firm’s revenue was up 33.2% on a year-over-year basis. During the same period in the prior year, the company earned ($3.35) earnings per share. On average, equities research analysts expect that Tesla Inc will post -4.64 earnings per share for the current fiscal year.

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About Tesla

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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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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