Share on Stocktwits 1248 Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 711.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,754 shares of the electric vehicle producer’s stock after purchasing an additional 16,443 shares during the period. Tesla accounts for approximately 2.2% of 1248 Management LLC’s portfolio, making the stock its 13th largest position. 1248 Management LLC’s holdings in Tesla were worth $5,957,000 at the end of the most recent quarter. Get Tesla alerts: A number of other hedge funds also recently bought and sold shares of TSLA. Chapman Financial Group LLC purchased a new stake in Tesla in the second quarter worth $26,000. LGT Financial Advisors LLC bought a new position in Tesla in the 2nd quarter worth $29,000. CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the 2nd quarter worth about $30,000. ESL Trust Services LLC increased its position in shares of Tesla by 1,900.0% during the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 95 shares during the period. Finally, Chelsea Counsel Co. raised its stake in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock. Tesla Stock Performance Shares of NASDAQ TSLA opened at $458.96 on Friday. The firm’s 50-day moving average price is $435.52 and its 200-day moving average price is $376.29. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a market cap of $1.53 trillion, a PE ratio of 305.97, a PEG ratio of 15.50 and a beta of 1.87. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year. Insider Buying and Selling at Tesla In related news, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the sale, the director owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. The trade was a 3.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 119,457 shares of company stock valued at $52,137,945. Insiders own 19.90% of the company’s stock. Wall Street Analysts Forecast Growth Several analysts have weighed in on the company. Melius assumed coverage on Tesla in a research report on Monday, October 13th. They set a “buy” rating and a $520.00 price objective on the stock. Wall Street Zen upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. CICC Research boosted their target price on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Finally, Canaccord Genuity Group decreased their price target on shares of Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $399.33.