Tesla, Inc. (NASDAQ:TSLA) Stake Raised by Fortis Capital Management LLC

Fortis Capital Management LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,194 shares of the electric vehicle producer’s stock after buying an additional 3,187 shares during the period. Tesla comprises about 1.8% of Fortis Capital Management LLC’s portfolio, making the stock its 11th biggest holding. Fortis Capital Management LLC’s holdings in Tesla were worth $9,770,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GS Investments Inc. boosted its stake in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the period. Cyrus J. Lawrence LLC acquired a new stake in Tesla during the fourth quarter valued at $44,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter valued at about $46,000. Parkworth Wealth Management Inc. acquired a new position in Tesla in the 4th quarter worth about $47,000. Finally, PayPay Securities Corp lifted its holdings in shares of Tesla by 130.2% during the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TSLA shares. Cantor Fitzgerald raised shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective on the stock in a research report on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. Stifel Nicolaus decreased their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a report on Monday, February 10th. Barclays raised their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Finally, Morgan Stanley lowered their price objective on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $318.93.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Up 5.3 %

Shares of TSLA stock opened at $248.71 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a fifty day moving average of $335.19 and a 200-day moving average of $320.44. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market cap of $799.98 billion, a price-to-earnings ratio of 121.92, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its quarterly 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.