Princeton Capital Management LLC Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Princeton Capital Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,950 shares of the electric vehicle producer's stock after buying an additional 946 shares during the quarter. Tesla comprises approximately 1.1% of Princeton Capital Management LLC's holdings, making the stock its 19th largest position. Princeton Capital Management LLC's holdings in Tesla were worth $3,614,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Modern Wealth Management LLC raised its stake in shares of Tesla by 12.6% in the fourth quarter. Modern Wealth Management LLC now owns 9,805 shares of the electric vehicle producer's stock valued at $3,960,000 after purchasing an additional 1,094 shares in the last quarter. Dudley Capital Management LLC increased its stake in shares of Tesla by 7.7% in the 4th quarter. Dudley Capital Management LLC now owns 8,445 shares of the electric vehicle producer's stock valued at $3,410,000 after acquiring an additional 606 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Tesla in the 4th quarter valued at $38,000. Grantvest Financial Group LLC acquired a new stake in shares of Tesla during the fourth quarter worth about $512,000. Finally, Prudential Financial Inc. raised its holdings in shares of Tesla by 0.5% during the fourth quarter. Prudential Financial Inc. now owns 2,637,631 shares of the electric vehicle producer's stock worth $1,065,181,000 after acquiring an additional 13,001 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Mizuho reduced their target price on shares of Tesla from $515.00 to $430.00 and set an "outperform" rating for the company in a report on Monday, March 17th. Wedbush restated an "outperform" rating and issued a $550.00 price objective on shares of Tesla in a report on Thursday, March 20th. Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the company an "in-line" rating in a research report on Friday, January 3rd. Roth Capital upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating for the company in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $318.93.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company's stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Up 3.4 %

TSLA stock traded up $9.56 during midday trading on Tuesday, reaching $287.95. The company's stock had a trading volume of 148,758,365 shares, compared to its average volume of 91,639,279. The firm has a market capitalization of $926.20 billion, a price-to-earnings ratio of 141.15, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a fifty day simple moving average of $330.52 and a two-hundred day simple moving average of $322.04. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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 (EPS) 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%. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company 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.