Quartz Partners LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Quartz Partners LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 569 shares of the electric vehicle producer’s stock, valued at approximately $230,000.

Several other institutional investors have also recently bought and sold shares of the business. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in Tesla by 32.4% during the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 7,093 shares of the electric vehicle producer’s stock worth $2,865,000 after buying an additional 1,736 shares during the last quarter. Wealthstream Advisors Inc. raised its holdings in Tesla by 4.4% during the fourth quarter. Wealthstream Advisors Inc. now owns 2,684 shares of the electric vehicle producer’s stock worth $1,084,000 after buying an additional 114 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in Tesla by 2.6% during the fourth quarter. Crestwood Advisors Group LLC now owns 9,953 shares of the electric vehicle producer’s stock worth $4,019,000 after buying an additional 253 shares during the last quarter. IFP Advisors Inc raised its holdings in Tesla by 25.9% during the fourth quarter. IFP Advisors Inc now owns 19,808 shares of the electric vehicle producer’s stock worth $8,000,000 after buying an additional 4,071 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV acquired a new position in Tesla during the fourth quarter worth $161,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several analyst reports. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and increased their target price for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a report on Monday, February 10th. Jefferies Financial Group increased their target price on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. UBS Group increased their target price on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a report on Thursday, January 30th. Finally, Robert W. Baird lowered their target price on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Ten analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $319.57.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 over the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

TSLA stock opened at $290.80 on Thursday. The firm has a 50 day moving average of $390.99 and a 200-day moving average of $315.51. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a market capitalization of $935.36 billion, a P/E ratio of 142.55, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.