Quantbot Technologies LP Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Quantbot Technologies LP raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 768.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 22,812 shares of the electric vehicle producer’s stock after buying an additional 20,186 shares during the period. Quantbot Technologies LP’s holdings in Tesla were worth $9,212,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. ZEGA Investments LLC purchased a new stake in Tesla during the fourth quarter worth about $4,302,000. von Borstel & Associates Inc. grew its holdings in shares of Tesla by 3.7% in the fourth quarter. von Borstel & Associates Inc. now owns 1,535 shares of the electric vehicle producer’s stock valued at $619,000 after purchasing an additional 55 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in Tesla during the 4th quarter worth approximately $172,000. Summit Global Investments lifted its holdings in Tesla by 350.3% during the 4th quarter. Summit Global Investments now owns 36,810 shares of the electric vehicle producer’s stock worth $14,865,000 after buying an additional 28,635 shares in the last quarter. Finally, Mindset Wealth Management LLC grew its stake in shares of Tesla by 15.7% in the fourth quarter. Mindset Wealth Management LLC now owns 3,283 shares of the electric vehicle producer’s stock worth $1,326,000 after acquiring an additional 446 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 3.0 %

Shares of NASDAQ TSLA opened at $240.68 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The firm has a market cap of $774.15 billion, a P/E ratio of 117.98, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The firm’s 50 day moving average price is $354.52 and its 200 day moving average price is $318.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on 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 completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 over the last quarter. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSLA. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Robert W. Baird dropped their price objective on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Glj Research reiterated a “buy” rating on shares of Tesla in a research note on Tuesday. Stifel Nicolaus cut their price target on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Nine investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $325.81.

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.