Sharpepoint LLC Takes $1.38 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Sharpepoint LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,422 shares of the electric vehicle producer’s stock, valued at approximately $1,382,000. Tesla comprises about 1.2% of Sharpepoint LLC’s investment portfolio, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hengehold Capital Management LLC increased its holdings in shares of Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after acquiring an additional 24 shares during the period. Strategic Investment Advisors MI raised its holdings in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after buying an additional 24 shares during the last quarter. Acropolis Investment Management LLC boosted its position in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD increased its position in Tesla by 0.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after acquiring an additional 25 shares during the period. Finally, Vista Finance LLC raised its stake in Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after acquiring an additional 25 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on TSLA shares. Stifel Nicolaus lowered their price target on Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Benchmark lowered their target price on shares of Tesla from $475.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. HSBC reduced their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. Royal Bank of Canada dropped their target price on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Finally, StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $292.18.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92 % 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. Insiders sold 374,228 shares of company stock valued at $123,791,123 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $241.17 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market cap of $775.71 billion, a P/E ratio of 118.22, a P/E/G ratio of 5.86 and a beta of 2.58. The firm has a 50 day simple moving average of $273.93 and a 200 day simple moving average of $322.72.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla Company 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.