Sierra Capital LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Sierra Capital LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,946 shares of the electric vehicle producer’s stock after purchasing an additional 333 shares during the period. Sierra Capital LLC’s holdings in Tesla were worth $1,997,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TSLA. Swedbank AB lifted its position in shares of Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares in the last quarter. Pallas Capital Advisors LLC lifted its position in shares of Tesla by 37.7% during the 3rd quarter. Pallas Capital Advisors LLC now owns 3,457 shares of the electric vehicle producer’s stock valued at $900,000 after buying an additional 947 shares in the last quarter. GW Henssler & Associates Ltd. purchased a new position in shares of Tesla during the 3rd quarter valued at approximately $215,000. Jacobsen Capital Management lifted its position in shares of Tesla by 19.6% during the 3rd quarter. Jacobsen Capital Management now owns 4,767 shares of the electric vehicle producer’s stock valued at $1,247,000 after buying an additional 780 shares in the last quarter. Finally, Eagle Strategies LLC lifted its position in shares of Tesla by 41.4% during the 3rd quarter. Eagle Strategies LLC now owns 6,780 shares of the electric vehicle producer’s stock valued at $1,774,000 after buying an additional 1,985 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Piper Sandler raised their price objective on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Cantor Fitzgerald restated a “neutral” rating and issued a $365.00 price objective on shares of Tesla in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Benchmark initiated coverage on Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective on the stock. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $319.57.

Tesla Trading Down 4.0 %

NASDAQ:TSLA opened at $290.80 on Thursday. The firm has a market cap of $935.36 billion, a P/E ratio of 142.55, a PEG ratio of 5.86 and a beta of 2.34. 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 stock’s 50 day simple moving average is $390.99 and its 200-day simple moving average is $315.51. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

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

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

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.