Zweig DiMenna Associates LLC Makes New $6.56 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

Zweig DiMenna Associates LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,255 shares of the electric vehicle producer’s stock, valued at approximately $6,564,000.

Other large investors have also added to or reduced their stakes in the company. Rodgers & Associates LTD purchased a new position in shares of Tesla in the 4th quarter worth approximately $208,000. Impact Partnership Wealth LLC boosted its holdings in shares of Tesla by 22.2% in the 4th quarter. Impact Partnership Wealth LLC now owns 4,965 shares of the electric vehicle producer’s stock worth $2,005,000 after purchasing an additional 903 shares during the period. Southland Equity Partners LLC boosted its holdings in shares of Tesla by 6.2% in the 4th quarter. Southland Equity Partners LLC now owns 8,190 shares of the electric vehicle producer’s stock worth $3,307,000 after purchasing an additional 475 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Tesla by 12.9% in the 4th quarter. Sound Income Strategies LLC now owns 16,360 shares of the electric vehicle producer’s stock worth $6,607,000 after purchasing an additional 1,871 shares during the period. Finally, Rappaport Reiches Capital Management LLC boosted its holdings in shares of Tesla by 1.7% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 3,572 shares of the electric vehicle producer’s stock worth $1,443,000 after purchasing an additional 60 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 617,886 shares of company stock valued at $212,451,751. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 1.4 %

Shares of NASDAQ:TSLA opened at $406.58 on Monday. The business’s 50-day moving average is $398.82 and its 200 day moving average is $294.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a market capitalization of $1.31 trillion, a P/E ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TSLA shares. JPMorgan Chase & Co. boosted their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Morgan Stanley boosted their price objective on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $230.00 to $515.00 in a report on Tuesday, December 17th. Glj Research restated a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Friday, January 3rd. Finally, Cantor Fitzgerald boosted their price objective on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $313.84.

About Tesla

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.