Straightline Group LLC Purchases New Shares in Tesla, Inc. (NASDAQ:TSLA)

Straightline Group LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,516 shares of the electric vehicle producer's stock, valued at approximately $1,016,000. Tesla makes up about 0.7% of Straightline Group LLC's portfolio, making the stock its 10th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Destination Wealth Management lifted its stake in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock valued at $3,296,000 after buying an additional 1,359 shares in the last quarter. Stephens Consulting LLC lifted its position in shares of Tesla by 126.7% in the fourth 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 in the last quarter. Worth Asset Management LLC boosted its stake in shares of Tesla by 383.1% during the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock valued at $3,358,000 after acquiring an additional 6,593 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. increased its position 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 worth $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Ameritas Advisory Services LLC raised its stake in Tesla by 104.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer's stock valued at $23,242,000 after purchasing an additional 29,458 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 374,228 shares of company stock valued at $123,791,123 over the last three months. Company insiders own 20.70% of the company's stock.

Tesla Trading Down 0.2 %

Shares of TSLA traded down $0.44 during trading hours on Friday, reaching $251.96. The stock had a trading volume of 128,603,814 shares, compared to its average volume of 95,877,966. The company has a market cap of $810.42 billion, a P/E ratio of 123.51, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $285.19 and a 200 day moving average of $323.09.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TSLA. Robert W. Baird cut their price objective on shares of Tesla from $440.00 to $370.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. New Street Research upgraded Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price target for the company in a report on Monday, January 6th. Barclays upped their target price on shares of Tesla from $270.00 to $325.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 15th. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and increased their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Piper Sandler cut their target price on shares of Tesla from $500.00 to $450.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Eight equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $298.59.

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.