Spinnaker Investment Group LLC Makes New $367,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Spinnaker Investment Group LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 908 shares of the electric vehicle producer’s stock, valued at approximately $367,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Smith Thornton Advisors LLC bought a new stake in shares of Tesla during the 2nd quarter worth approximately $233,000. Beaird Harris Wealth Management LLC raised its holdings in shares of Tesla by 60.4% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 2,181 shares of the electric vehicle producer’s stock valued at $432,000 after purchasing an additional 821 shares during the period. Susquehanna Fundamental Investments LLC grew its holdings in Tesla by 40.8% during the second quarter. Susquehanna Fundamental Investments LLC now owns 140,155 shares of the electric vehicle producer’s stock worth $27,734,000 after purchasing an additional 40,633 shares during the period. Sepio Capital LP increased its position in Tesla by 19.9% during the second quarter. Sepio Capital LP now owns 57,907 shares of the electric vehicle producer’s stock worth $11,459,000 after buying an additional 9,626 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its holdings in shares of Tesla by 5.9% during the 2nd quarter. Kathmere Capital Management LLC now owns 1,247 shares of the electric vehicle producer’s stock worth $247,000 after acquiring an additional 70 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 617,886 shares of company stock valued at $212,451,751. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research reports. Barclays upped their price target on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Morgan Stanley lifted their price target on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada increased their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Finally, Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Eight research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $313.84.

Tesla Stock Performance

NASDAQ TSLA opened at $406.58 on Friday. The company’s 50 day moving average is $398.82 and its 200-day moving average is $294.03. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm has a market cap of $1.31 trillion, a P/E ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.01 earnings per share 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.