PharVision Advisers LLC Buys New Position in Tesla, Inc. (NASDAQ:TSLA)

PharVision Advisers LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,110 shares of the electric vehicle producer's stock, valued at approximately $852,000. Tesla makes up 0.7% of PharVision Advisers LLC's portfolio, making the stock its 8th largest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Tesla in the fourth quarter worth about $14,420,248,000. FMR LLC boosted its position in 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 acquiring an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC grew 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 acquiring an additional 8,637,195 shares during the period. 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 acquiring an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of 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 purchasing an additional 5,075,418 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of Tesla 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 sale, the director now directly 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. Insiders have sold a total of 415,623 shares of company stock worth $116,650,831 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Up 0.5%

Shares of 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 company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.11 trillion, a PE ratio of 168.54, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The business's 50 day moving average is $271.29 and its 200 day moving average is $331.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (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 company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the business earned $0.45 EPS. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of several recent research reports. Argus set a $410.00 price target on Tesla in a research note on Thursday, April 24th. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and boosted their target price for the company from $180.00 to $388.00 in a report on Friday, March 7th. Truist Financial set a $280.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Canaccord Genuity Group dropped their price objective on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Cowen raised shares of Tesla from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Ten research 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $289.43.

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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