C M Bidwell & Associates Ltd. Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

C M Bidwell & Associates Ltd. lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9,523.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,251 shares of the electric vehicle producer's stock after acquiring an additional 1,238 shares during the quarter. C M Bidwell & Associates Ltd.'s holdings in Tesla were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Principal Financial Group Inc. increased its stake in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock worth $955,052,000 after acquiring an additional 194,796 shares during the last quarter. United Bank purchased a new stake in shares of Tesla in the 3rd quarter worth $287,000. Quantbot Technologies LP purchased a new stake in shares of Tesla in the 3rd quarter worth approximately $687,000. Hantz Financial Services Inc. lifted its stake in shares of Tesla by 9.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 8,208 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 721 shares during the last quarter. Finally, Kitching Partners LLC acquired a new position in shares of Tesla during the third quarter worth $201,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 3.6 %

Shares of TSLA stock traded up $9.30 during trading hours on Tuesday, hitting $268.46. 145,757,545 shares of the company were exchanged, compared to its average volume of 93,590,683. The firm has a fifty day moving average of $317.98 and a 200 day moving average of $323.21. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a market cap of $863.51 billion, a PE ratio of 131.60, a PEG ratio of 5.86 and a beta of 2.50.

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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%. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated 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 of the company's stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now owns 5,400 shares of the company's stock, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TSLA shares. Royal Bank of Canada dropped their target price on Tesla from $440.00 to $320.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Robert W. Baird decreased their target price 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. Canaccord Genuity Group reaffirmed a "buy" rating and set a $404.00 price target on shares of Tesla in a research report on Monday, March 17th. Roth Capital raised Tesla from a "hold" rating to a "strong-buy" rating in a report on Monday, December 2nd. Finally, Cantor Fitzgerald upgraded Tesla from a "neutral" rating to an "overweight" rating and set a $425.00 price target for the company in a research report on Wednesday, March 19th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $317.75.

About Tesla

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.