Paradigm Capital Management LLC NV Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Paradigm Capital Management LLC NV acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 756 shares of the electric vehicle producer’s stock, valued at approximately $305,000.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Horrell Capital Management Inc. increased its stake in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. increased its stake in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC purchased a new position in shares of Tesla during the 4th quarter worth approximately $37,000. CoreFirst Bank & Trust purchased a new position in shares of Tesla during the 4th quarter worth approximately $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Tesla in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $334.07 on Wednesday. The stock has a market capitalization of $1.08 trillion, a PE ratio of 163.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company’s 50-day moving average is $260.85 and its 200-day moving average is $328.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the company earned $0.45 EPS. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $8,085,000. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,623 shares of company stock worth $115,600,501 in the last quarter. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Canaccord Genuity Group lowered their target price on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Robert W. Baird lowered their price objective on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Finally, TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $287.46.

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.