CenterBook Partners LP Invests $2.28 Million in Tesla, Inc. (NASDAQ:TSLA)

CenterBook Partners LP bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,649 shares of the electric vehicle producer’s stock, valued at approximately $2,281,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Destination Wealth Management grew its holdings in Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after buying an additional 1,359 shares in the last quarter. Stephens Consulting LLC grew its holdings in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after purchasing an additional 891 shares in the last quarter. Worth Asset Management LLC increased its position in Tesla by 383.1% in the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer’s stock worth $3,358,000 after purchasing an additional 6,593 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its position in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Ameritas Advisory Services LLC grew its stake in shares of Tesla by 104.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock worth $23,242,000 after buying an additional 29,458 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TSLA shares. Wedbush decreased their target price on shares of Tesla from $550.00 to $315.00 and set an “outperform” rating on the stock in a research report on Monday. Truist Financial decreased their price target on Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a report on Thursday, April 3rd. Glj Research reissued a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $425.00 price target on shares of Tesla in a research note on Thursday, April 3rd. Finally, Benchmark reduced their price objective on shares of Tesla from $475.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $301.40.

Tesla Price Performance

NASDAQ TSLA opened at $272.20 on Thursday. The firm has a market capitalization of $875.54 billion, a P/E ratio of 133.43, a P/E/G ratio of 5.86 and a beta of 2.58. 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 firm’s fifty day simple moving average is $290.62 and its two-hundred day simple moving average is $323.14. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last announced 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%. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.