Quadrant Capital Group LLC Acquires 2,801 Shares of Tesla, Inc. (NASDAQ:TSLA)

Quadrant Capital Group LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,493 shares of the electric vehicle producer’s stock after buying an additional 2,801 shares during the quarter. Tesla comprises approximately 0.9% of Quadrant Capital Group LLC’s holdings, making the stock its 17th largest position. Quadrant Capital Group LLC’s holdings in Tesla were worth $12,718,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TSLA. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. boosted its position 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 acquiring an additional 58 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in Tesla in the fourth quarter worth $38,000. Delos Wealth Advisors LLC increased its position in Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after purchasing an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC bought a new position in Tesla during the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla 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 sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $239.43 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market capitalization of $770.13 billion, a price-to-earnings ratio of 117.37, a PEG ratio of 5.86 and a beta of 2.58. The stock’s 50-day simple moving average is $305.98 and its 200-day simple moving average is $323.56.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TSLA shares. Royal Bank of Canada reduced their target price on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $404.00 price objective on shares of Tesla in a research note on Monday, March 17th. UBS Group cut their target price on Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research report on Monday, March 10th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday, January 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Eight analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $312.65.

Tesla 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.