Bearing Point Capital LLC Invests $989,000 in Tesla, Inc. (NASDAQ:TSLA)

Bearing Point Capital LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,448 shares of the electric vehicle producer's stock, valued at approximately $989,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC raised its holdings in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank purchased a new position in shares of Tesla in the fourth quarter valued at about $14,420,248,000. FMR LLC boosted its stake in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Finally, Northern Trust Corp grew its position in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TSLA shares. Wedbush reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Tesla in a report on Thursday. UBS Group cut their target price on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Robert W. Baird decreased their price target on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Roth Mkm dropped their price target on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $287.46.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 75,000 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the transaction, the director now directly owns 1,463,220 shares of the company's stock, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 486,618 shares of company stock valued at $155,887,459 over the last three months. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Tesla stock opened at $287.21 on Friday. 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 company has a market capitalization of $925.09 billion, a PE ratio of 140.79, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a 50 day moving average price of $258.82 and a 200-day moving average price of $325.18. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54.

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

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.

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