Magnetar Financial LLC Invests $564,000 in Tesla, Inc. (NASDAQ:TSLA)

Magnetar Financial LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,396 shares of the electric vehicle producer’s stock, valued at approximately $564,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Tesla during the fourth quarter valued at approximately $46,000. Parkworth Wealth Management Inc. acquired a new stake in shares of Tesla during the fourth quarter valued at approximately $47,000. PayPay Securities Corp raised its holdings in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Tesla during the fourth quarter valued at approximately $55,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TSLA shares. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research note on Tuesday. Barclays upped their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Bank of America dropped their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Stifel Nicolaus dropped their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and upped their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $318.93.

Tesla Trading Up 5.3 %

Shares of TSLA stock opened at $248.71 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market cap of $799.98 billion, a price-to-earnings ratio of 121.92, a P/E/G ratio of 5.86 and a beta of 2.50. 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 firm has a fifty day moving average of $335.19 and a 200-day moving average of $319.68.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by corporate 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.