Fox Run Management L.L.C. Purchases New Shares in Tesla, Inc. (NASDAQ:TSLA)

Fox Run Management L.L.C. acquired a new stake in 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 acquired 1,651 shares of the electric vehicle producer’s stock, valued at approximately $667,000.

Several other large investors also recently modified their holdings of TSLA. KLP Kapitalforvaltning AS acquired a new stake in shares of Tesla during the fourth quarter worth approximately $391,365,000. Knights of Columbus Asset Advisors LLC increased its position in shares of Tesla by 13.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 47,878 shares of the electric vehicle producer’s stock worth $19,335,000 after purchasing an additional 5,620 shares during the last quarter. Umpqua Bank acquired a new stake in shares of Tesla in the 4th quarter valued at about $209,000. Hillsdale Investment Management Inc. lifted its position in shares of Tesla by 36.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 3,201 shares of the electric vehicle producer’s stock worth $1,293,000 after purchasing an additional 850 shares during the last quarter. Finally, Intellus Advisors LLC acquired a new position in Tesla in the fourth quarter worth about $343,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Benchmark began coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective on the stock. Robert W. Baird dropped their price target on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a report on Wednesday, March 12th. Wedbush reissued an “outperform” rating and set a $550.00 target price on shares of Tesla in a report on Thursday, March 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $318.93.

Tesla Stock Performance

Shares of TSLA opened at $278.39 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm’s 50 day moving average is $332.69 and its 200-day moving average is $321.49. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market capitalization of $895.45 billion, a P/E ratio of 136.47, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 over the last three months. 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.