SWS Partners Buys 980 Shares of Tesla, Inc. (NASDAQ:TSLA)

SWS Partners increased its position in Tesla, Inc. (NASDAQ:TSLA) by 103.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,928 shares of the electric vehicle producer’s stock after purchasing an additional 980 shares during the period. SWS Partners’ holdings in Tesla were worth $779,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Hengehold Capital Management LLC lifted its stake in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after buying an additional 24 shares during the period. Strategic Investment Advisors MI lifted its stake in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after buying an additional 24 shares during the period. Acropolis Investment Management LLC lifted its stake in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD raised its holdings in shares of Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after purchasing an additional 25 shares during the last quarter. Finally, Vista Finance LLC raised its holdings in shares of Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the transaction, the chief financial officer now owns 23,084 shares in the company, valued at $6,833,325.68. The trade was a 20.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $25,466,850. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 422,386 shares of company stock worth $153,916,675 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $279.10 on Thursday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm’s 50 day moving average price is $374.97 and its 200 day moving average price is $318.13. The company has a market cap of $897.73 billion, a P/E ratio of 136.81, a PEG ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TSLA. Robert W. Baird reduced their target price on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Benchmark began coverage on shares of Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Guggenheim reissued a “sell” rating on shares of Tesla in a report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $315.33.

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.