1248 Management LLC Makes New $855,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

1248 Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,116 shares of the electric vehicle producer's stock, valued at approximately $855,000.

Several other hedge funds have also recently bought and sold shares of TSLA. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla during the fourth quarter worth $56,600,000. Stephens Consulting LLC raised its stake in Tesla by 126.7% in 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 in the last quarter. Worth Asset Management LLC raised its stake in Tesla by 383.1% in the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock worth $3,358,000 after purchasing an additional 6,593 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. increased its holdings in shares of Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after purchasing an additional 1,629 shares during the period. Finally, Harvard Management Co. Inc. bought a new position in shares of Tesla during the fourth quarter worth approximately $8,158,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,672 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 486,618 shares of company stock worth $155,887,459 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Up 2.4 %

TSLA stock traded up $6.69 during midday trading on Friday, hitting $287.21. The stock had a trading volume of 113,968,586 shares, compared to its average volume of 95,860,479. 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 business has a fifty day moving average price of $258.82 and a two-hundred day moving average price of $325.18. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The firm has a market cap of $925.09 billion, a P/E ratio of 140.79, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the business earned $0.45 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. BNP Paribas set a $137.00 price objective on Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Argus set a $410.00 target price on Tesla in a report on Thursday, April 24th. HSBC dropped their price target on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research note on Thursday, March 27th. Mizuho reduced their price objective on shares of Tesla from $375.00 to $325.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $287.46.

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.