Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,584,877 shares of the electric vehicle producer’s stock after selling 3,523 shares during the period. Tesla accounts for 1.8% of Adage Capital Partners GP L.L.C.’s investment portfolio, making the stock its 7th biggest position. Adage Capital Partners GP L.L.C.’s holdings in Tesla were worth $1,043,877,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Horrell Capital Management Inc. grew its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. boosted its stake in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the period. CoreFirst Bank & Trust bought a new position in shares of Tesla during the fourth quarter valued at approximately $38,000. Delos Wealth Advisors LLC raised its position in shares of Tesla by 300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after purchasing an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC acquired a new position in Tesla during the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 4.6 %

Shares of NASDAQ TSLA opened at $237.97 on Wednesday. The stock has a market cap of $765.43 billion, a price-to-earnings ratio of 116.65, a PEG ratio of 5.86 and a beta of 2.58. The business has a 50 day simple moving average of $269.39 and a 200 day simple moving average of $322.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52 week low of $141.11 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of several analyst reports. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a report on Monday, January 6th. Raymond James lowered shares of Tesla to an “outperform” rating in a research note on Tuesday. Evercore ISI raised their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Royal Bank of Canada reduced their price objective on Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Finally, UBS Group cut their target price on Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a research note on Thursday, April 10th. Ten analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $290.66.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were 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 represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock valued at $123,791,123 over the last three months. 20.70% of the stock is currently owned by insiders.

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.