Third Point LLC Buys 100,000 Shares of Tesla, Inc. (NASDAQ:TSLA)

Third Point LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500,000 shares of the electric vehicle producer's stock after buying an additional 100,000 shares during the quarter. Tesla makes up about 2.7% of Third Point LLC's holdings, making the stock its 17th biggest holding. Third Point LLC's holdings in Tesla were worth $201,920,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TSLA. Westbourne Investments Inc. purchased a new stake in Tesla during the 4th quarter valued at about $713,000. Freestone Grove Partners LP purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $1,902,000. JAT Capital Mgmt LP bought a new stake in shares of Tesla during the fourth quarter valued at approximately $14,306,000. Parvin Asset Management LLC purchased a new position in Tesla in the 4th quarter worth approximately $149,000. Finally, Headland Capital LLC bought a new position in Tesla in the 4th quarter valued at approximately $449,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 23,084 shares in the company, valued at $6,833,325.68. This trade represents a 20.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $25,466,850. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 367,228 shares of company stock worth $110,043,434 over the last 90 days. Corporate insiders own 20.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on TSLA. Wedbush reissued an "outperform" rating and issued a $350.00 target price on shares of Tesla in a report on Thursday. Barclays decreased their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and lifted their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus price target of $287.46.

Tesla Price Performance

NASDAQ TSLA traded down $8.34 during trading hours on Monday, reaching $278.87. The company's stock had a trading volume of 53,010,094 shares, compared to its average volume of 107,575,820. 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, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The firm's 50-day moving average price is $258.82 and its 200-day moving average price is $325.91. The company has a market capitalization of $898.22 billion, a price-to-earnings ratio of 136.69, a PEG ratio of 5.86 and a beta of 2.43.

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 company 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 company posted $0.45 EPS. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.