Private Portfolio Partners LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Private Portfolio Partners LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,064 shares of the electric vehicle producer’s stock after acquiring an additional 209 shares during the quarter. Private Portfolio Partners LLC’s holdings in Tesla were worth $833,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Horrell Capital Management Inc. lifted its holdings 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 in the last quarter. GS Investments Inc. raised its position in shares of 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 last quarter. CoreFirst Bank & Trust purchased a new position in shares of Tesla during the fourth quarter valued at approximately $38,000. Delos Wealth Advisors LLC boosted its position in Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after acquiring an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new stake in Tesla in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 3.6 %

Shares of NASDAQ:TSLA opened at $268.46 on Wednesday. The company has a 50 day moving average of $314.87 and a 200-day moving average of $323.48. 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 has a market cap of $863.51 billion, a P/E ratio of 131.60, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on TSLA. The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Wells Fargo & Company lowered their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Monday, February 10th. Morgan Stanley lowered their target price on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Finally, Royal Bank of Canada cut their price target on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $317.75.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla 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 completion of the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

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.