Sierra Ocean LLC Makes New $439,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Sierra Ocean LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,087 shares of the electric vehicle producer's stock, valued at approximately $439,000.

Several other hedge funds have also bought and sold shares of TSLA. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter valued at about $29,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla during the fourth quarter valued at approximately $46,000. PayPay Securities Corp raised its stake in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer's stock worth $49,000 after acquiring an additional 69 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter worth approximately $35,000. Finally, Finley Financial LLC purchased a new stake in shares of Tesla in the 4th quarter valued at $64,000. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Robert W. Baird reduced their price objective on Tesla from $480.00 to $440.00 and set an "outperform" rating on the stock in a research note on Thursday, January 30th. Royal Bank of Canada reissued an "outperform" rating and set a $440.00 price objective on shares of Tesla in a research note on Thursday, January 30th. Phillip Securities cut shares of Tesla from a "moderate sell" rating to a "strong sell" rating in a research report on Wednesday, November 13th. Canaccord Genuity Group boosted their price objective on shares of Tesla from $298.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Finally, Stifel Nicolaus dropped their target price on shares of Tesla from $492.00 to $474.00 and set a "buy" rating for the company in a report on Monday, February 10th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $326.50.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 in the last quarter. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

NASDAQ:TSLA traded down $16.60 during trading hours on Friday, reaching $337.80. The company had a trading volume of 73,720,762 shares, compared to its average volume of 75,434,742. The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 165.59, a PEG ratio of 5.97 and a beta of 2.34. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm's 50 day moving average price is $402.14 and its 200-day moving average price is $311.43.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its 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%. On average, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.