3Chopt Investment Partners LLC Takes $2.89 Million Position in Tesla, Inc. (NASDAQ:TSLA)

3Chopt Investment Partners LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,161 shares of the electric vehicle producer's stock, valued at approximately $2,892,000.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Hengehold Capital Management LLC lifted its holdings in Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock valued at $544,000 after purchasing an additional 24 shares in the last quarter. Strategic Investment Advisors MI lifted its stake in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock worth $2,823,000 after buying an additional 24 shares in the last quarter. Acropolis Investment Management LLC boosted its position in Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer's stock worth $1,136,000 after acquiring an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD grew its stake in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer's stock valued at $2,950,000 after acquiring an additional 25 shares in the last quarter. Finally, Vista Finance LLC raised its holdings in Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock valued at $1,417,000 after acquiring an additional 25 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TSLA shares. Wells Fargo & Company dropped their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group restated a "buy" rating and issued a $404.00 target price on shares of Tesla in a report on Monday, March 17th. Evercore ISI lifted their price target on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a report on Friday, January 3rd. Cowen raised shares of Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Finally, HSBC reduced their target price on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research note on Thursday, March 27th. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $298.59.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. This represents a 12.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock worth $123,791,123 in the last ninety days. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Up 0.7 %

Shares of NASDAQ TSLA traded up $1.76 during midday trading on Tuesday, hitting $254.11. 78,792,804 shares of the company's stock were exchanged, compared to its average volume of 95,936,384. The firm's fifty day simple moving average is $280.27 and its 200-day simple moving average is $323.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. 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, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.