Bryce Point Capital LLC Purchases Shares of 2,611 Tesla, Inc. (NASDAQ:TSLA)

Bryce Point Capital LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, HoldingsChannel reports. The firm purchased 2,611 shares of the electric vehicle producer’s stock, valued at approximately $1,054,000.

Several other institutional investors also recently modified their holdings of TSLA. World Investment Advisors LLC increased its stake in shares of Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares during the period. Destination Wealth Management increased its position in Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares during the period. Stephens Consulting LLC raised its holdings in Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after purchasing an additional 891 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $282.76 on Thursday. The stock has a 50 day moving average of $312.22 and a 200 day moving average of $323.20. The company has a market capitalization of $909.50 billion, a price-to-earnings ratio of 138.61, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 12 month low of $138.80 and a 12 month 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.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TSLA shares. Wells Fargo & Company dropped their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. JPMorgan Chase & Co. dropped their price objective on Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 12th. Barclays raised their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Finally, HSBC reduced their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research report on Thursday, March 27th. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $317.75.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on 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 sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 over the last three months. 20.70% of the stock is currently owned by insiders.

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.