1,647 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Pennington Partners & CO. LLC

Pennington Partners & CO. LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,647 shares of the electric vehicle producer's stock, valued at approximately $665,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. boosted its holdings in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. increased its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC acquired a new position in Tesla in the 4th quarter valued at about $37,000. CoreFirst Bank & Trust acquired a new position in Tesla in the 4th quarter valued at $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Tesla during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now owns 85,000 shares of the company's stock, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were 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 approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 486,618 shares of company stock valued at $155,887,459 over the last quarter. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

TSLA traded up $6.69 on Friday, hitting $287.21. 113,968,586 shares of the company traded hands, compared to its average volume of 95,860,479. The company has a 50 day moving average of $258.82 and a 200-day moving average of $325.18. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The stock has a market capitalization of $925.09 billion, a PE ratio of 140.79, a PEG ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald decreased their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. HSBC cut their price target on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a report on Thursday, March 27th. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research report on Tuesday, April 22nd. Argus set a $410.00 price objective on Tesla in a research note on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $287.46.

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.