Park Place Capital Corp Purchases 1,515 Shares of Tesla, Inc. (NASDAQ:TSLA)

Park Place Capital Corp lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 297.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,025 shares of the electric vehicle producer's stock after acquiring an additional 1,515 shares during the period. Park Place Capital Corp's holdings in Tesla were worth $818,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. World Investment Advisors LLC increased its holdings in shares of Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock worth $52,124,000 after acquiring an additional 184,459 shares in the last quarter. Destination Wealth Management grew its position in shares of 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 purchasing an additional 1,359 shares during the period. Vinva Investment Management Ltd raised its holdings in Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock worth $30,593,000 after buying an additional 43,685 shares during the period. MML Investors Services LLC lifted its stake in Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock valued at $80,944,000 after buying an additional 9,919 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer's stock valued at $37,801,000 after buying an additional 1,741 shares during the period. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on TSLA. Stifel Nicolaus raised their price objective on shares of Tesla from $411.00 to $492.00 and gave the stock a "buy" rating in a report on Monday, January 6th. UBS Group lifted their price target on Tesla from $197.00 to $226.00 and gave the company a "sell" rating in a research note on Monday, November 25th. Canaccord Genuity Group upped their price objective on Tesla from $254.00 to $278.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Glj Research reissued a "sell" rating and issued a $24.86 target price on shares of Tesla in a research report on Friday, January 3rd. Finally, Morgan Stanley upped their price target on Tesla from $400.00 to $430.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Eight analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Tesla has an average rating of "Hold" and an average price target of $313.84.

Tesla Stock Performance

Tesla stock traded down $5.80 during trading hours on Friday, hitting $406.58. The company had a trading volume of 56,102,963 shares, compared to its average volume of 67,394,624. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a market cap of $1.31 trillion, a PE ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30. The firm has a 50-day moving average of $398.82 and a 200 day moving average of $294.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analysts' expectations of $25.47 billion. During the same period last year, the firm posted $0.53 EPS. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 2.01 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % 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, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $31,548,461.84. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 617,886 shares of company stock worth $212,451,751 in the last 90 days. Company insiders own 20.70% of the company's stock.

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.