FORA Capital LLC Invests $9 Million in Tesla, Inc. (NASDAQ:TSLA)

FORA Capital 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 22,293 shares of the electric vehicle producer's stock, valued at approximately $9,003,000. Tesla accounts for 1.0% of FORA Capital LLC's holdings, making the stock its 19th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of TSLA. Horrell Capital Management Inc. raised its stake in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. grew its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after acquiring an additional 58 shares during the period. Navigoe LLC acquired a new stake in Tesla during the fourth quarter worth about $37,000. CoreFirst Bank & Trust purchased a new position in shares of Tesla in the 4th quarter worth about $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Tesla during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and increased their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Robert W. Baird lowered their price objective on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Guggenheim reiterated a "sell" rating and set a $170.00 price objective on shares of Tesla in a research note on Thursday, April 24th. UBS Group decreased their target price on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Finally, Wedbush reiterated an "outperform" rating and issued a $350.00 price objective on shares of Tesla in a report on Thursday, May 1st. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $287.46.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now owns 23,084 shares in the company, valued at $6,833,325.68. This represents a 20.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $23,300,200. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,623 shares of company stock worth $114,400,501. Company insiders own 20.70% of the company's stock.

Tesla Price Performance

NASDAQ:TSLA traded up $13.23 during trading hours on Friday, reaching $298.05. 132,028,653 shares of the company's stock were exchanged, compared to its average volume of 96,148,356. The company has a market capitalization of $960.01 billion, a P/E ratio of 146.10, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The business's 50-day simple moving average is $258.65 and its two-hundred day simple moving average is $326.64. 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 (NASDAQ:TSLA - Get Free Report) last issued 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company 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.