Tesla, Inc. (NASDAQ:TSLA) is Adage Capital Partners GP L.L.C.'s 7th Largest Position

Adage Capital Partners GP L.L.C. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,584,877 shares of the electric vehicle producer's stock after selling 3,523 shares during the quarter. Tesla accounts for about 1.8% of Adage Capital Partners GP L.L.C.'s holdings, making the stock its 7th biggest holding. Adage Capital Partners GP L.L.C. owned approximately 0.08% of Tesla worth $1,043,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Horrell Capital Management Inc. lifted its stake in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after buying an additional 58 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Tesla during the 4th quarter valued at about $38,000. Delos Wealth Advisors LLC lifted its position in Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer's stock worth $40,000 after buying an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new stake in Tesla in the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TSLA shares. JPMorgan Chase & Co. lowered their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and boosted their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. BNP Paribas set a $137.00 price objective on Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Evercore ISI lifted their price objective on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a report on Friday, January 3rd. Finally, Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Wednesday. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $287.46.

Tesla Stock Up 9.8 %

Shares of NASDAQ:TSLA traded up $25.44 on Friday, hitting $284.95. 166,882,151 shares of the company traded hands, compared to its average volume of 96,015,992. The company has a market cap of $916.55 billion, a PE ratio of 139.68, a PEG ratio of 5.86 and a beta of 2.58. The stock has a 50 day simple moving average of $263.98 and a 200-day simple moving average of $322.46. Tesla, Inc. has a 52 week low of $166.37 and a 52 week high of $488.54. 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 (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the firm posted $0.45 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. The trade was a 12.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,228 shares of company stock valued at $123,791,123. Corporate insiders own 20.70% of the company's stock.

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.