BluePointe Capital Management LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

BluePointe Capital Management LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 30.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,799 shares of the electric vehicle producer’s stock after purchasing an additional 1,114 shares during the period. Tesla makes up 1.1% of BluePointe Capital Management LLC’s investment portfolio, making the stock its 28th largest position. BluePointe Capital Management LLC’s holdings in Tesla were worth $1,938,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. World Investment Advisors LLC boosted its stake in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares during the period. Destination Wealth Management boosted its position in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after purchasing an additional 1,359 shares during the period. Stephens Consulting LLC increased its holdings in Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after purchasing an additional 891 shares during the last quarter. Vinva Investment Management Ltd raised its position in Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the period. Finally, MML Investors Services LLC lifted its stake in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction 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 transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated 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 sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 in the last ninety days. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of several research analyst reports. Glj Research reiterated a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Cantor Fitzgerald raised shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price target on the stock in a research report on Wednesday. Morgan Stanley restated a “top pick” rating and issued a $430.00 price objective on shares of Tesla in a report on Monday, March 3rd. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and increased their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, UBS Group dropped their price target on shares of Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research note on Monday, March 10th. Nine analysts have rated the stock with a sell rating, eight have given a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $321.12.

Tesla Stock Performance

Shares of Tesla stock opened at $235.86 on Thursday. The stock has a market capitalization of $758.65 billion, a price-to-earnings ratio of 115.62, a PEG ratio of 5.86 and a beta of 2.50. The firm’s fifty day simple moving average is $341.28 and its 200-day simple moving average is $320.02. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

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

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.