Ascent Capital Management LLC Invests $849,000 in Tesla, Inc. (NASDAQ:TSLA)

Ascent Capital Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,103 shares of the electric vehicle producer’s stock, valued at approximately $849,000. Tesla comprises about 0.9% of Ascent Capital Management LLC’s investment portfolio, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter worth $35,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Tesla in the 4th quarter valued at about $46,000. Parkworth Wealth Management Inc. acquired a new position in Tesla during the 4th quarter valued at about $47,000. PayPay Securities Corp raised its position in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after buying an additional 69 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Tesla in the 4th quarter worth approximately $55,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30 % 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 valued at $166,849,043. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $249.98 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock’s 50-day moving average is $351.31 and its two-hundred day moving average is $319.51. 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 firm has a market cap of $804.06 billion, a P/E ratio of 122.54, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $404.00 price objective on shares of Tesla in a research note on Tuesday, March 11th. Barclays raised their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $325.65.

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.