BIP Alliance LLC Takes $660,000 Position in Tesla, Inc. (NASDAQ:TSLA)

BIP Alliance LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,635 shares of the electric vehicle producer's stock, valued at approximately $660,000. Tesla comprises 0.3% of BIP Alliance LLC's portfolio, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC grew its stake 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 valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. Strategic Financial Concepts LLC increased its holdings in shares of Tesla by 36,790.0% during 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 buying an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of 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 buying an additional 5,719,466 shares during the period. Finally, Northern Trust Corp boosted its holdings in Tesla by 21.6% in 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 acquiring an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA stock opened at $341.04 on Friday. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 167.18, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company's 50-day simple moving average is $275.05 and its 200-day simple moving average is $332.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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 analysts' consensus estimates of $0.53 by ($0.26). The firm 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 period in the prior year, the business earned $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Guggenheim restated a "sell" rating and set a $170.00 price target on shares of Tesla in a research note on Thursday, April 24th. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Glj Research reissued a "sell" rating and issued a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Finally, Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Ten investment 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $289.43.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the transaction, the chief financial officer now directly owns 23,084 shares in the company, valued at approximately $6,833,325.68. This trade represents a 20.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $25,466,850. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,623 shares of company stock worth $116,650,831 over the last ninety days. 20.70% of the stock is owned by insiders.

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.

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