Archon Partners LLC Acquires Shares of 18,000 Tesla, Inc. (NASDAQ:TSLA)

Archon Partners LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,000 shares of the electric vehicle producer's stock, valued at approximately $7,269,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Tesla during the fourth quarter valued at approximately $14,420,248,000. FMR LLC grew its position in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Strategic Financial Concepts LLC increased its stake in Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after buying an additional 5,719,466 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of Tesla by 55,181.0% in the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer's stock valued at $1,769,899,000 after buying an additional 4,374,746 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

TSLA stock traded up $25.44 during mid-day trading on Friday, hitting $284.95. 166,882,151 shares of the stock were exchanged, compared to its average volume of 96,136,367. The business has a fifty day moving average price of $265.36 and a 200 day moving average price of $322.18. Tesla, Inc. has a 12 month low of $158.36 and a 12 month high of $488.54. 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 stock has a market capitalization of $916.55 billion, a price-to-earnings ratio of 139.68, a PEG ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated 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 transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 374,228 shares of company stock valued at $123,791,123. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TSLA. Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. HSBC reduced their price objective on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research note on Thursday, March 27th. Morgan Stanley reissued a "buy" rating and issued a $430.00 price target on shares of Tesla in a report on Tuesday. Guggenheim restated a "sell" rating and set a $170.00 price objective on shares of Tesla in a report on Thursday. Finally, TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and boosted their target price for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla has an average rating of "Hold" and a consensus price target of $287.46.

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.