Bridgewater Associates LP Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Bridgewater Associates LP bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 153,589 shares of the electric vehicle producer’s stock, valued at approximately $62,025,000.

Other hedge funds have also recently bought and sold shares of the company. Horrell Capital Management Inc. lifted its position in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. lifted its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Tesla during the fourth quarter worth about $38,000. Delos Wealth Advisors LLC grew its holdings in shares of Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after buying an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new stake in Tesla in the 4th quarter valued at approximately $44,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TSLA shares. UBS Group decreased their price target on shares of Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Piper Sandler lowered their price target on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Mizuho lowered their target price on Tesla from $430.00 to $375.00 and set an “outperform” rating on the stock in a research report on Thursday, April 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $425.00 price target on shares of Tesla in a research note on Thursday, April 3rd. Eight equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $298.59.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is currently owned by insiders.

Tesla Trading Up 0.0 %

Shares of Tesla stock opened at $252.35 on Tuesday. The firm’s 50-day moving average price is $282.67 and its two-hundred day moving average price is $323.51. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market capitalization of $811.69 billion, a price-to-earnings ratio of 123.70, a PEG ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last posted 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, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.