Sharpepoint LLC Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Sharpepoint LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,422 shares of the electric vehicle producer's stock, valued at approximately $1,382,000. Tesla makes up approximately 1.2% of Sharpepoint LLC's investment portfolio, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Norges Bank bought a new stake in Tesla during the 4th quarter worth $14,420,248,000. FMR LLC boosted its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing 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 fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in 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 valued at $2,356,288,000 after buying an additional 5,719,466 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in Tesla by 55,181.0% during the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer's stock worth $1,769,899,000 after buying an additional 4,374,746 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company's stock, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company's stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on TSLA shares. Raymond James downgraded Tesla to an "outperform" rating in a report on Tuesday. Benchmark reissued a "buy" rating and issued a $350.00 price target on shares of Tesla in a research note on Wednesday. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a research note on Thursday. BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Finally, Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $286.85.

Tesla Stock Performance

NASDAQ TSLA traded up $4.52 on Thursday, hitting $255.26. 64,032,383 shares of the stock traded hands, compared to its average volume of 96,075,799. Tesla, Inc. has a 12 month low of $157.51 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business's fifty day moving average is $267.29 and its two-hundred day moving average is $322.05. The firm has a market capitalization of $821.04 billion, a price-to-earnings ratio of 125.21, a PEG ratio of 5.86 and a beta of 2.58.

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 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 the consensus estimate 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 prior year, the business earned $0.45 EPS. As a group, equities analysts anticipate 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.