Moment Partners LLC Makes New $273,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Moment Partners LLC bought a new position 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 bought 675 shares of the electric vehicle producer’s stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. Sava Infond d.o.o. acquired a new stake in shares of Tesla during the 4th quarter worth about $682,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Tesla by 8.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,685,988 shares of the electric vehicle producer’s stock worth $1,923,317,000 after buying an additional 345,368 shares during the last quarter. Cottage Street Advisors LLC increased its holdings in shares of Tesla by 27.9% during the fourth quarter. Cottage Street Advisors LLC now owns 5,042 shares of the electric vehicle producer’s stock worth $2,036,000 after buying an additional 1,100 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Tesla in the fourth quarter valued at approximately $3,231,000. Finally, Graney & King LLC bought a new stake in Tesla during the 4th quarter worth approximately $84,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price objective on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Glj Research reissued a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Wedbush reaffirmed an “outperform” rating and issued a $550.00 target price on shares of Tesla in a research note on Thursday, March 20th. Stifel Nicolaus decreased their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Cowen raised Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $318.93.

Tesla Price Performance

Shares of TSLA opened at $272.06 on Thursday. The stock has a 50 day simple moving average of $327.40 and a 200 day simple moving average of $321.69. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. 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 market capitalization of $875.09 billion, a PE ratio of 133.36, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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%. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The stock was 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 of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $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 worth $166,849,043 over the last three months. Corporate insiders own 20.70% of the company’s stock.

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.