Arrowstreet Capital Limited Partnership purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 402,585 shares of the electric vehicle producer's stock, valued at approximately $162,580,000.
A number of other large investors have also added to or reduced their stakes in TSLA. Horrell Capital Management Inc. grew its position in Tesla by 75.6% in the fourth 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 in the last quarter. GS Investments Inc. increased its position in shares of 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 purchased a new stake in Tesla during the 4th quarter valued at $38,000. Cyrus J. Lawrence LLC bought a new stake in Tesla in the fourth quarter worth $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla during the fourth quarter worth $46,000. Institutional investors own 66.20% of the company's stock.
Analysts Set New Price Targets
TSLA has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. HSBC dropped their target price on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. Morgan Stanley reduced their price target on Tesla from $430.00 to $410.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Glj Research restated a "buy" rating on shares of Tesla in a report on Tuesday, March 11th. Finally, Royal Bank of Canada decreased their target price on Tesla from $440.00 to $320.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $317.75.
View Our Latest Stock Report on Tesla
Insider Activity at Tesla
In related news, Director James R. Murdoch sold 54,776 shares of the company's 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 sale, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 in the last ninety days. Company insiders own 20.70% of the company's stock.
Tesla Stock Up 3.6 %
NASDAQ TSLA traded up $9.30 during trading on Tuesday, hitting $268.46. The company's stock had a trading volume of 145,757,545 shares, compared to its average volume of 93,590,071. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a market cap of $863.51 billion, a PE ratio of 131.60, a P/E/G ratio of 5.86 and a beta of 2.50. 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 business's 50 day simple moving average is $317.98 and its 200-day simple moving average is $323.21.
Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results 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, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.
Tesla Company Profile
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Free Report)
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.
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