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

Third Point LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.0% in the 4th 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 accounts for about 2.7% of Third Point LLC's investment portfolio, making the stock its 17th largest position. Third Point LLC's holdings in Tesla were worth $201,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Tesla Price Performance

TSLA traded up $6.69 during trading on Friday, hitting $287.21. 113,968,586 shares of the stock traded hands, compared to its average volume of 95,780,628. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a 50 day moving average price of $258.82 and a 200 day moving average price of $324.47. The company has a market cap of $925.09 billion, a price-to-earnings ratio of 140.79, a PEG ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the business posted $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TSLA. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Raymond James lowered Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Wedbush reissued an "outperform" rating and issued a $350.00 target price on shares of Tesla in a research note on Thursday. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Ten 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $287.46.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total value of $32,096,336.20. Following the transaction, the director now owns 85,000 shares in the company, valued at $24,274,300. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 486,618 shares of company stock worth $155,887,459. 20.70% of the stock is currently owned by insiders.

Tesla 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.