Arrowpoint Investment Partners Singapore Pte. Ltd. Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,630 shares of the electric vehicle producer's stock, valued at approximately $2,677,000. Tesla comprises 0.6% of Arrowpoint Investment Partners Singapore Pte. Ltd.'s investment portfolio, making the stock its 14th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC raised its stake in Tesla by 2.8% during the 4th 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 purchasing an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new stake in Tesla in the 4th quarter worth $14,420,248,000. FMR LLC increased its holdings in shares of Tesla by 40.1% during 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 during the period. Finally, Northern Trust Corp raised 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 valued at $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 0.5%

Shares of NASDAQ:TSLA opened at $343.82 on Wednesday. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The firm has a market cap of $1.11 trillion, a P/E ratio of 168.54, a P/E/G ratio of 5.86 and a beta of 2.43. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company's 50-day moving average price is $271.29 and its two-hundred day moving average price is $331.39.

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 net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the business posted $0.45 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of a number of recent research reports. Canaccord Genuity Group decreased their target price on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. Cfra Research cut Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Finally, Mizuho lifted their target price on shares of Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $289.43.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.