Armis Advisers LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Armis Advisers LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,770 shares of the electric vehicle producer's stock, valued at approximately $1,118,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in Tesla in the 4th quarter worth about $14,420,248,000. FMR LLC raised its stake in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Tesla by 21.6% in the 4th 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. Institutional investors own 66.20% of the company's stock.

Tesla Trading Down 1.7%

Shares of NASDAQ:TSLA traded down $5.99 during midday trading on Wednesday, reaching $356.90. The company's stock had a trading volume of 90,072,873 shares, compared to its average volume of 97,559,466. Tesla, Inc. has a fifty-two week low of $167.41 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 50 day moving average price of $281.93 and a two-hundred day moving average price of $333.59. The firm has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 174.95, a PEG ratio of 5.86 and a beta of 2.43.

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

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now directly owns 23,084 shares of the company's stock, valued at $6,833,325.68. The trade was a 20.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,623 shares of company stock valued at $116,650,831. Corporate insiders own 20.70% of the company's stock.

Analyst Ratings Changes

TSLA has been the subject of several analyst reports. Robert W. Baird dropped their target price on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen downgraded shares of Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Wedbush reaffirmed an "outperform" rating and set a $500.00 price target (up previously from $350.00) on shares of Tesla in a report on Friday, May 23rd. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $293.97.

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.