Purkiss Capital Advisors LLC Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

Purkiss Capital Advisors LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel.com reports. The fund bought 2,567 shares of the electric vehicle producer’s stock, valued at approximately $1,037,000. Tesla comprises 0.9% of Purkiss Capital Advisors LLC’s portfolio, making the stock its 24th largest position.

Several other hedge funds have also recently made changes to their positions in the company. Swedbank AB grew its position in Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Tesla during the 3rd quarter worth about $403,000. Lansing Street Advisors boosted its stake in shares of Tesla by 4.0% during the 3rd quarter. Lansing Street Advisors now owns 1,852 shares of the electric vehicle producer’s stock worth $485,000 after acquiring an additional 72 shares in the last quarter. Blue Square Asset Management LLC boosted its stake in shares of Tesla by 9.0% during the 3rd quarter. Blue Square Asset Management LLC now owns 28,527 shares of the electric vehicle producer’s stock worth $7,464,000 after acquiring an additional 2,350 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Tesla by 12.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 817,309 shares of the electric vehicle producer’s stock worth $213,833,000 after acquiring an additional 93,389 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 403,996 shares of company stock worth $153,721,387 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler increased their target price on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Monday, February 10th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a research note on Saturday, February 8th. Ten equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $318.77.

Tesla Stock Down 2.8 %

Tesla stock opened at $284.65 on Tuesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two 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 50 day moving average price of $382.44 and a 200 day moving average price of $318.01. The company has a market capitalization of $915.58 billion, a PE ratio of 139.53, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34.

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

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.