Fire Capital Management LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Fire Capital Management LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,431 shares of the electric vehicle producer's stock, valued at approximately $5,424,000. Tesla accounts for approximately 4.0% of Fire Capital Management LLC's investment portfolio, making the stock its 4th biggest holding.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings 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 worth $98,211,134,000 after acquiring an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 buying an additional 1,655,203 shares during the period. Norges Bank bought a new position in Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC grew its position in Tesla by 40.1% in 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 acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp grew its position 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 valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Down 2.6%

NASDAQ TSLA traded down $9.34 during trading hours on Friday, hitting $349.09. 122,996,137 shares of the company were exchanged, compared to its average volume of 98,157,709. The company has a 50 day moving average of $286.92 and a two-hundred day moving average of $334.13. 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, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The firm has a market cap of $1.12 trillion, a price-to-earnings ratio of 171.12, a PEG ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the previous year, the company posted $0.45 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TSLA shares. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Glj Research reaffirmed a "sell" rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Bank of America dropped their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. BNP Paribas set a $137.00 price objective on Tesla and gave the company an "underperform" rating in a report on Wednesday, April 16th. Finally, Guggenheim reissued a "sell" rating and issued a $170.00 price objective on shares of Tesla in a report on Thursday, April 24th. Ten 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 currently has an average rating of "Hold" and a consensus price target of $293.97.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was 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 $7,242,273.50. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at $25,466,850. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 984,783 shares of company stock valued at $320,019,942 in the last three months. 20.70% of the stock is currently owned by company insiders.

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.