Twinbeech Capital LP Takes $13.05 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Twinbeech Capital LP acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 32,319 shares of the electric vehicle producer’s stock, valued at approximately $13,052,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TSLA. Wealth Group Ltd. acquired a new stake in Tesla during the 4th quarter worth $275,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Tesla during the 4th quarter worth $1,361,000. Tallon Kerry Patrick acquired a new stake in Tesla during the 4th quarter worth $374,000. Wedge Capital Management L L P NC raised its stake in Tesla by 27.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 3,164 shares of the electric vehicle producer’s stock worth $1,278,000 after acquiring an additional 675 shares in the last quarter. Finally, Whitener Capital Management Inc. acquired a new stake in Tesla during the 4th quarter worth $230,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 2.3%

TSLA stock opened at $342.09 on Tuesday. The company’s 50 day simple moving average is $269.23 and its 200-day simple moving average is $331.30. The firm has a market capitalization of $1.10 trillion, a PE ratio of 167.69, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. 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 (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the previous year, the company posted $0.45 EPS. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on TSLA shares. Royal Bank of Canada cut their price target on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Barclays dropped their price objective on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Finally, TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $289.43.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the company’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 transaction, the chief financial officer now directly owns 23,084 shares in the company, valued at $6,833,325.68. The trade was a 20.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 412,623 shares of company stock valued at $115,600,501. Company insiders own 20.70% 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.