X Square Capital LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

X Square Capital LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 510.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,285 shares of the electric vehicle producer's stock after purchasing an additional 9,436 shares during the period. Tesla makes up 1.9% of X Square Capital LLC's investment portfolio, making the stock its 10th largest holding. X Square Capital LLC's holdings in Tesla were worth $4,557,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Tesla in the fourth quarter worth $14,420,248,000. Strategic Financial Concepts LLC grew its holdings in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Proficio Capital Partners LLC increased its position in Tesla by 55,181.0% in the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer's stock worth $1,769,899,000 after buying an additional 4,374,746 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer's stock valued at $2,215,765,000 after buying an additional 3,624,910 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

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Tesla Stock Performance

NASDAQ:TSLA traded down $10.81 during trading hours on Monday, reaching $252.74. The company had a trading volume of 63,305,304 shares, compared to its average volume of 93,114,346. The firm has a market cap of $812.94 billion, a price-to-earnings ratio of 124.26, a PEG ratio of 5.86 and a beta of 2.50. 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 $321.33 and its 200-day moving average price is $323.01. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results 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, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm's 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 directly owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 477,228 shares of company stock worth $166,849,043. Company insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TSLA. Roth Capital upgraded shares of Tesla from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Evercore ISI raised their price target on Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a report on Friday, January 3rd. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $404.00 target price on shares of Tesla in a report on Monday, March 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday. Nine 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average 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.