Peachtree Investment Partners LLC Invests $299,000 in Tesla, Inc. (NASDAQ:TSLA)

Peachtree Investment Partners LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 741 shares of the electric vehicle producer’s stock, valued at approximately $299,000.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Principal Financial Group Inc. raised its stake in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after acquiring an additional 194,796 shares in the last quarter. United Bank acquired a new stake in shares of Tesla during the 3rd quarter worth about $287,000. Hodges Capital Management Inc. bought a new position in Tesla during the 3rd quarter valued at about $685,000. Raab & Moskowitz Asset Management LLC boosted its position in Tesla by 9.2% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,262 shares of the electric vehicle producer’s stock valued at $330,000 after buying an additional 106 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in Tesla by 7.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,043,054 shares of the electric vehicle producer’s stock worth $272,894,000 after buying an additional 74,096 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TSLA. Guggenheim reduced their target price on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a report on Wednesday, March 12th. JPMorgan Chase & Co. decreased their target price on Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. HSBC lowered their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. Stifel Nicolaus decreased their price objective on shares of Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Eight research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $305.31.

Insider Activity

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This trade 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 can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 370,228 shares of company stock valued at $122,791,123 over the last three months. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 2.6 %

TSLA stock opened at $233.29 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $750.38 billion, a P/E ratio of 114.36, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The business has a 50-day moving average of $302.70 and a 200-day moving average of $324.17.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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, sell-side analysts anticipate 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.