Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Holderness Investments Co.

Holderness Investments Co. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,838 shares of the electric vehicle producer’s stock after purchasing an additional 97 shares during the quarter. Holderness Investments Co.’s holdings in Tesla were worth $742,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Whittier Trust Co. boosted its position in Tesla by 123.6% during the 4th quarter. Whittier Trust Co. now owns 75,220 shares of the electric vehicle producer’s stock valued at $30,376,000 after purchasing an additional 41,576 shares during the period. BluePointe Capital Management LLC raised its stake in Tesla by 30.2% during the 4th quarter. BluePointe Capital Management LLC now owns 4,799 shares of the electric vehicle producer’s stock valued at $1,938,000 after acquiring an additional 1,114 shares in the last quarter. Condor Capital Management raised its stake in Tesla by 5.1% during the 4th quarter. Condor Capital Management now owns 2,034 shares of the electric vehicle producer’s stock valued at $821,000 after acquiring an additional 99 shares in the last quarter. Contrarius Group Holdings Ltd bought a new stake in Tesla during the 4th quarter valued at $167,816,000. Finally, Magnetar Financial LLC bought a new stake in Tesla during the 4th quarter valued at $564,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Evercore ISI lifted their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Barclays lifted their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Finally, Stifel Nicolaus dropped their price objective on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $319.56.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $236.26 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year 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 company has a market capitalization of $759.93 billion, a price-to-earnings ratio of 115.81, a P/E/G ratio of 5.86 and a beta of 2.50. The stock’s fifty day simple moving average is $338.11 and its 200-day simple moving average is $319.44.

Tesla (NASDAQ:TSLA) last issued its quarterly 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, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.