Geneva Partners LLC Buys Shares of 13,000 Tesla, Inc. (NASDAQ:TSLA)

Geneva Partners LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,000 shares of the electric vehicle producer’s stock, valued at approximately $5,250,000. Tesla comprises approximately 2.1% of Geneva Partners LLC’s holdings, making the stock its 16th largest holding.

A number of other hedge funds also recently made changes to their positions in TSLA. Retirement Planning Group LLC raised its holdings in shares of Tesla by 16.1% during the third quarter. Retirement Planning Group LLC now owns 1,392 shares of the electric vehicle producer’s stock valued at $364,000 after buying an additional 193 shares during the last quarter. Carnegie Investment Counsel raised its holdings in shares of Tesla by 29.6% during the third quarter. Carnegie Investment Counsel now owns 6,630 shares of the electric vehicle producer’s stock valued at $1,735,000 after buying an additional 1,515 shares during the last quarter. CHICAGO TRUST Co NA raised its holdings in Tesla by 37.6% during the third quarter. CHICAGO TRUST Co NA now owns 2,197 shares of the electric vehicle producer’s stock worth $575,000 after purchasing an additional 600 shares in the last quarter. Douglas Lane & Associates LLC bought a new stake in Tesla during the third quarter worth approximately $209,000. Finally, VitalStone Financial LLC raised its holdings in Tesla by 52.3% during the third quarter. VitalStone Financial LLC now owns 3,095 shares of the electric vehicle producer’s stock worth $810,000 after purchasing an additional 1,063 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 3.0 %

NASDAQ TSLA opened at $350.73 on Tuesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.13 trillion, a PE ratio of 171.93, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The firm’s fifty day simple moving average is $408.27 and its 200-day simple moving average is $304.55.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the 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 transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 635,776 shares of company stock valued at $231,335,112 over the last three months. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley boosted their target price on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Canaccord Genuity Group boosted their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their target price on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $440.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $321.71.

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.