35,426 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by JAT Capital Mgmt LP

JAT Capital Mgmt LP bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 35,426 shares of the electric vehicle producer's stock, valued at approximately $14,306,000. Tesla comprises 2.3% of JAT Capital Mgmt LP's holdings, making the stock its 15th biggest position.

Other hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new position in Tesla during the fourth quarter worth $56,600,000. Destination Wealth Management boosted its holdings in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock valued at $3,296,000 after buying an additional 1,359 shares during the period. Stephens Consulting LLC grew its position in shares of Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after buying an additional 891 shares during the last quarter. Worth Asset Management LLC raised its stake in Tesla by 383.1% during the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock worth $3,358,000 after acquiring an additional 6,593 shares during the period. Finally, Strategic Family Wealth Counselors L.L.C. lifted its holdings in Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after acquiring an additional 1,629 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Down 0.6 %

TSLA stock traded down $1.64 during midday trading on Thursday, reaching $280.52. The company had a trading volume of 98,993,540 shares, compared to its average volume of 95,679,436. The company has a 50 day moving average of $259.13 and a two-hundred day moving average of $324.00. The company has a market capitalization of $903.54 billion, a P/E ratio of 137.51, a PEG ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1 year low of $167.41 and a 1 year 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.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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 return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the prior year, the business posted $0.45 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TSLA. Deutsche Bank Aktiengesellschaft lowered their target price on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. BNP Paribas set a $137.00 target price on Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Royal Bank of Canada lowered their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. UBS Group cut their price objective on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Finally, Guggenheim restated a "sell" rating and issued a $170.00 target price on shares of Tesla in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus target price of $287.46.

Insider Activity

In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were 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 $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Gebbia purchased 4,000 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were acquired at an average price of $256.31 per share, for a total transaction of $1,025,240.00. Following the purchase, the director now owns 4,111 shares in the company, valued at $1,053,690.41. The trade was a 3,603.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 486,618 shares of company stock worth $155,887,459 in the last three months. 20.70% of the stock is owned by insiders.

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.