Morse Asset Management Inc Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Morse Asset Management Inc grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,311 shares of the electric vehicle producer's stock after purchasing an additional 1,599 shares during the quarter. Tesla makes up about 1.0% of Morse Asset Management Inc's holdings, making the stock its 28th biggest position. Morse Asset Management Inc's holdings in Tesla were worth $4,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of TSLA. NDVR Inc. purchased a new position in shares of Tesla during the fourth quarter worth about $265,000. MJP Associates Inc. ADV grew its stake in Tesla by 14.3% during the 4th quarter. MJP Associates Inc. ADV now owns 5,527 shares of the electric vehicle producer's stock worth $2,232,000 after buying an additional 690 shares during the last quarter. Lazard Asset Management LLC increased its position in Tesla by 45.5% during the fourth quarter. Lazard Asset Management LLC now owns 236,938 shares of the electric vehicle producer's stock worth $95,684,000 after buying an additional 74,046 shares during the period. Leigh Baldwin & CO. LLC acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $601,138,000. Finally, Logan Capital Management Inc. grew its position in shares of Tesla by 50.8% during the fourth quarter. Logan Capital Management Inc. now owns 395 shares of the electric vehicle producer's stock worth $160,000 after acquiring an additional 133 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated 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 owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 23,084 shares in the company, valued at approximately $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. In the last three months, insiders sold 412,623 shares of company stock worth $115,600,501. Insiders own 20.70% of the company's stock.

Tesla Price Performance

Tesla stock traded down $4.86 during midday trading on Thursday, reaching $342.82. 97,570,410 shares of the company were exchanged, compared to its average volume of 96,795,965. The firm's 50-day simple moving average is $262.55 and its 200-day simple moving average is $328.41. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 168.05, a P/E/G ratio of 5.86 and a beta of 2.43. 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 issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter last year, the firm earned $0.45 earnings per share. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Morgan Stanley reaffirmed a "buy" rating and set a $430.00 price objective on shares of Tesla in a research report on Tuesday, April 22nd. Truist Financial set a $280.00 target price on shares of Tesla in a report on Tuesday, April 22nd. StockNews.com cut shares of Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Finally, TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and raised their price objective for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus price target of $287.46.

About Tesla

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.