Sierra Ocean LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Sierra Ocean LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,087 shares of the electric vehicle producer’s stock, valued at approximately $439,000.

A number of other institutional investors also recently modified their holdings of the business. Swedbank AB raised its stake in Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares in the last quarter. Courier Capital LLC acquired a new position in Tesla in the third quarter valued at about $262,000. Wallington Asset Management LLC acquired a new position in Tesla in the third quarter valued at about $280,000. RAM Investment Partners LLC raised its stake in Tesla by 1.4% in the third quarter. RAM Investment Partners LLC now owns 4,108 shares of the electric vehicle producer’s stock valued at $1,075,000 after purchasing an additional 58 shares in the last quarter. Finally, McAdam LLC raised its stake in Tesla by 1.4% in the third quarter. McAdam LLC now owns 7,232 shares of the electric vehicle producer’s stock valued at $1,892,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 523,386 shares of company stock worth $195,995,200. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $354.40 on Friday. The stock has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 173.73, a PEG ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock’s 50 day moving average price is $402.14 and its two-hundred day moving average price is $311.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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 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, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $440.00 target price on shares of Tesla in a research note on Thursday, January 30th. Guggenheim reissued a “sell” rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, January 29th. Piper Sandler boosted their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, Truist Financial boosted their target price on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $326.50.

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.