Knightsbridge Asset Management LLC Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Knightsbridge Asset Management LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,464 shares of the electric vehicle producer’s stock after acquiring an additional 138 shares during the period. Knightsbridge Asset Management LLC’s holdings in Tesla were worth $591,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares during the period. McIlrath & Eck LLC raised its position in shares of Tesla by 6.0% in the 3rd quarter. McIlrath & Eck LLC now owns 3,401 shares of the electric vehicle producer’s stock valued at $890,000 after purchasing an additional 192 shares in the last quarter. Advisory Resource Group grew its holdings in Tesla by 1.2% during the 3rd quarter. Advisory Resource Group now owns 4,260 shares of the electric vehicle producer’s stock worth $1,115,000 after acquiring an additional 50 shares in the last quarter. Morse Asset Management Inc increased its holdings in Tesla by 46.0% in the third quarter. Morse Asset Management Inc now owns 8,712 shares of the electric vehicle producer’s stock valued at $2,279,000 after buying an additional 2,743 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its position in shares of Tesla by 31.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 5,579 shares of the electric vehicle producer’s stock valued at $1,460,000 after acquiring an additional 1,334 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 3.5 %

Shares of Tesla stock opened at $259.51 on Friday. The firm’s 50-day moving average price is $265.36 and its two-hundred day moving average price is $322.18. Tesla, Inc. has a 12-month low of $158.36 and a 12-month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $834.72 billion, a price-to-earnings ratio of 127.21, a PEG ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the firm posted $0.45 EPS. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction 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 trade represents a 10.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 374,228 shares of company stock worth $123,791,123. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada decreased their target price on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research note on Wednesday. Mizuho dropped their price target on Tesla from $375.00 to $325.00 and set an “outperform” rating on the stock in a report on Wednesday. Roth Mkm dropped their target price on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Raymond James downgraded Tesla to an “outperform” rating in a research note on Tuesday. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $287.46.

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.