Fountainhead AM LLC Has $3.71 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Fountainhead AM LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,934 shares of the electric vehicle producer’s stock after acquiring an additional 866 shares during the period. Tesla makes up 1.0% of Fountainhead AM LLC’s investment portfolio, making the stock its 21st largest holding. Fountainhead AM LLC’s holdings in Tesla were worth $3,711,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TSLA. Wyrmwood Management LLC acquired a new position in shares of Tesla during the fourth quarter valued at about $25,000. Lam Group Inc. purchased a new position in Tesla during the fourth quarter worth about $25,000. Mendota Financial Group LLC boosted its holdings in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Ogorek Anthony Joseph NY ADV boosted its holdings in Tesla by 94.5% during the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. boosted its holdings in Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 1.9 %

Shares of Tesla stock traded up $2.63 during trading on Tuesday, reaching $144.68. The company’s stock had a trading volume of 119,642,343 shares, compared to its average volume of 101,872,688. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a market cap of $460.78 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 3.89 and a beta of 2.40. The firm’s 50-day moving average is $176.81 and its two-hundred day moving average is $209.24. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same period last year, the company posted $1.07 EPS. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Mizuho reiterated a “neutral” rating and issued a $195.00 target price (down from $270.00) on shares of Tesla in a research note on Monday, March 25th. Canaccord Genuity Group dropped their target price on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. HSBC dropped their target price on shares of Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 3rd. Finally, Redburn Atlantic started coverage on shares of Tesla in a research report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price target on the stock. Eight equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $194.33.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,098 shares of company stock valued at $38,802,534. Corporate insiders own 20.90% of the company’s stock.

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.