Pacific Point Advisors LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Pacific Point Advisors LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 21,339 shares of the electric vehicle producer's stock, valued at approximately $8,602,000. Tesla makes up 5.3% of Pacific Point Advisors LLC's investment portfolio, making the stock its 3rd biggest holding.

Several other large investors have also modified their holdings of TSLA. Wick Capital Partners LLC raised its stake in shares of Tesla by 48.8% during the 4th quarter. Wick Capital Partners LLC now owns 2,927 shares of the electric vehicle producer's stock worth $1,182,000 after acquiring an additional 960 shares in the last quarter. Hudson Value Partners LLC bought a new position in shares of Tesla during the 4th quarter worth approximately $235,000. Vega Investment Solutions bought a new position in shares of Tesla during the 4th quarter worth approximately $808,000. Investment Management Corp VA ADV bought a new position in shares of Tesla during the 4th quarter worth approximately $59,000. Finally, Helium Advisors LLC bought a new position in shares of Tesla during the 4th quarter worth approximately $630,000. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Guggenheim reissued a "sell" rating and set a $170.00 target price on shares of Tesla in a research report on Thursday, April 24th. Piper Sandler set a $400.00 price objective on shares of Tesla in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Roth Mkm dropped their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Cantor Fitzgerald dropped their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $289.43.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction 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 of the company's stock, valued at $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the sale, the chief financial officer now owns 23,084 shares of the company's stock, valued at $6,833,325.68. The trade was a 20.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,623 shares of company stock valued at $116,650,831 in the last quarter. Insiders own 20.70% of the company's stock.

Tesla Stock Up 1.9%

Shares of TSLA opened at $341.04 on Friday. 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 $1.10 trillion, a P/E ratio of 167.18, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The firm'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 announced its 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 analyst estimates 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 earned $0.45 EPS. On average, 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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