Fox Run Management L.L.C. Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Fox Run Management L.L.C. purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,651 shares of the electric vehicle producer’s stock, valued at approximately $667,000.

A number of other hedge funds have also modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new stake in Tesla during the fourth quarter valued at $391,365,000. Knights of Columbus Asset Advisors LLC raised its stake in shares of Tesla by 13.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 47,878 shares of the electric vehicle producer’s stock worth $19,335,000 after purchasing an additional 5,620 shares in the last quarter. Umpqua Bank acquired a new stake in shares of Tesla during the 4th quarter valued at about $209,000. Hillsdale Investment Management Inc. grew its stake in shares of Tesla by 36.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 3,201 shares of the electric vehicle producer’s stock valued at $1,293,000 after buying an additional 850 shares in the last quarter. Finally, Intellus Advisors LLC acquired a new position in Tesla in the fourth quarter worth approximately $343,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on TSLA shares. Mizuho decreased their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price target on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Robert W. Baird decreased their target price on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $318.93.

Tesla Price Performance

Tesla stock opened at $278.39 on Tuesday. The business has a 50 day simple moving average of $332.69 and a 200 day simple moving average of $321.49. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market capitalization of $895.45 billion, a PE ratio of 136.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued 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, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.