Twinbeech Capital LP Purchases Shares of 32,319 Tesla, Inc. (NASDAQ:TSLA)

Twinbeech Capital LP purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,319 shares of the electric vehicle producer’s stock, valued at approximately $13,052,000.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. boosted its stake in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares in the last quarter. 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 worth $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC purchased a new stake in shares of Tesla during the 4th quarter worth about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the 4th quarter worth about $38,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the firm’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 value of $1,776,120.00. Following the completion of the transaction, the chief financial officer now owns 23,084 shares of the company’s stock, valued at $6,833,325.68. This trade represents a 20.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 54,776 shares of the firm’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 completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 412,623 shares of company stock valued at $115,600,501 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TSLA. Guggenheim reissued a “sell” rating and set a $170.00 target price on shares of Tesla in a research note on Thursday, April 24th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Finally, Piper Sandler set a $400.00 price target on shares of Tesla in a research report on Tuesday, May 6th. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $289.43.

Tesla Stock Performance

NASDAQ:TSLA opened at $342.09 on Tuesday. 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 stock has a market capitalization of $1.10 trillion, a P/E ratio of 167.69, a PEG ratio of 5.86 and a beta of 2.43. The company has a 50 day moving average price of $269.23 and a 200 day moving average price of $331.30. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the business posted $0.45 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.