Freestone Grove Partners LP Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Freestone Grove Partners LP acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,710 shares of the electric vehicle producer’s stock, valued at approximately $1,902,000.

Other institutional investors have also modified their holdings of the company. Horrell Capital Management Inc. raised its position 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 during the last quarter. GS Investments Inc. boosted its position in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC purchased a new stake in shares of Tesla during the 4th quarter valued at $37,000. CoreFirst Bank & Trust purchased a new stake in Tesla during the fourth quarter valued at about $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Tesla during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $287.21 on Friday. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The firm has a 50-day moving average of $258.82 and a two-hundred day moving average of $324.47. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $925.09 billion, a PE ratio of 140.79, a P/E/G ratio of 5.86 and a beta of 2.58.

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

Insider Buying and Selling at Tesla

In other news, 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 owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 486,618 shares of company stock valued at $155,887,459 in the last quarter. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several research reports. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 23rd. Canaccord Genuity Group decreased their price target on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Finally, Cantor Fitzgerald reduced their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.