Acorn Creek Capital LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Acorn Creek Capital LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,652 shares of the electric vehicle producer’s stock after purchasing an additional 203 shares during the period. Tesla comprises 0.6% of Acorn Creek Capital LLC’s portfolio, making the stock its 20th largest position. Acorn Creek Capital LLC’s holdings in Tesla were worth $1,071,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in Tesla in the third quarter worth $29,000. Clean Yield Group increased its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Peterson Financial Group Inc. bought a new stake in Tesla during the 3rd quarter valued at $35,000. Finley Financial LLC acquired a new stake in Tesla in the fourth quarter worth about $64,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after acquiring an additional 187 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. Glj Research reaffirmed a “sell” rating and set a $24.86 target price on shares of Tesla in a research note on Friday, January 3rd. Cantor Fitzgerald restated a “neutral” rating and issued a $365.00 target price on shares of Tesla in a report on Wednesday. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a report on Monday, January 6th. The Goldman Sachs Group boosted their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus increased their price target on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Nine analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $318.31.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 553,386 shares of company stock worth $196,305,796. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 1.1 %

TSLA stock opened at $404.60 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.30 trillion, a P/E ratio of 198.33, a P/E/G ratio of 8.08 and a beta of 2.30. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The business’s 50 day moving average is $403.18 and its 200-day moving average is $297.99.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. Equities analysts anticipate that Tesla, Inc. will post 2.82 earnings per share for the current fiscal 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.