Everest Management Corp. Invests $556,000 in Tesla, Inc. (NASDAQ:TSLA)

Everest Management Corp. bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,376 shares of the electric vehicle producer’s stock, valued at approximately $556,000. Tesla accounts for about 0.5% of Everest Management Corp.’s investment portfolio, making the stock its 28th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Horrell Capital Management Inc. boosted its stake in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. lifted its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. CoreFirst Bank & Trust bought a new position in Tesla during the fourth quarter worth $38,000. Delos Wealth Advisors LLC boosted its position in Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after purchasing an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC acquired a new position in shares of Tesla in the fourth quarter valued at $44,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TSLA. Evercore ISI lifted their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Wells Fargo & Company reduced their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and increased their target price for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. The Goldman Sachs Group reduced their price target on Tesla from $320.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday, February 10th. Eight equities research analysts have rated the stock with a sell rating, nine 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, the stock currently has an average rating of “Hold” and a consensus target price of $298.59.

Tesla Stock Up 0.7 %

NASDAQ:TSLA opened at $254.11 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm’s 50 day simple moving average is $280.27 and its 200 day simple moving average is $323.03. The company has a market cap of $817.35 billion, a PE ratio of 124.56, a P/E/G ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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%. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the 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 completion of the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 374,228 shares of company stock worth $123,791,123. Insiders own 20.70% of the company’s stock.

Tesla 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.