Oak Grove Capital LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Oak Grove Capital LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,817 shares of the electric vehicle producer’s stock after buying an additional 67 shares during the period. Oak Grove Capital LLC’s holdings in Tesla were worth $1,945,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Snider Financial Group purchased a new stake in Tesla during the fourth quarter valued at approximately $962,000. Triad Wealth Partners LLC purchased a new stake in Tesla during the fourth quarter valued at approximately $834,000. Wealth Advisory Solutions LLC purchased a new stake in Tesla during the fourth quarter valued at approximately $265,000. Carrera Capital Advisors raised its position in Tesla by 236.6% during the fourth quarter. Carrera Capital Advisors now owns 5,218 shares of the electric vehicle producer’s stock valued at $2,107,000 after purchasing an additional 3,668 shares during the period. Finally, Crew Capital Management Ltd. raised its position in Tesla by 43.4% during the fourth quarter. Crew Capital Management Ltd. now owns 5,168 shares of the electric vehicle producer’s stock valued at $2,087,000 after purchasing an additional 1,565 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 422,386 shares of company stock valued at $153,916,675. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $279.10 on Thursday. The firm has a market capitalization of $897.73 billion, a price-to-earnings ratio of 136.81, 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. The business has a fifty day moving average of $374.97 and a 200 day moving average of $318.13. 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 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%. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on TSLA. Stifel Nicolaus cut their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Barclays upped 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. UBS Group reaffirmed a “neutral” rating on shares of Tesla in a research note on Tuesday. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Benchmark began coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price on the stock. Nine analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $315.33.

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.