Moment Partners LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Moment Partners LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 675 shares of the electric vehicle producer’s stock, valued at approximately $273,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. lifted its stake in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. raised its stake in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the period. CoreFirst Bank & Trust acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $38,000. Cyrus J. Lawrence LLC bought a new position in shares of Tesla during the 4th quarter worth approximately $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla during the 4th quarter worth approximately $46,000. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald raised shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 target price for the company in a report on Wednesday, March 19th. Bank of America lowered their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Finally, Truist Financial increased their target price on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $318.93.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by insiders.

Tesla Trading Down 5.6 %

Shares of Tesla stock opened at $272.06 on Thursday. The firm has a market capitalization of $875.09 billion, a PE ratio of 133.36, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $327.40 and its 200 day moving average is $321.69. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

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