Science & Technology Partners L.P. Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Science & Technology Partners L.P. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,300 shares of the electric vehicle producer’s stock, valued at approximately $525,000. Tesla makes up approximately 0.2% of Science & Technology Partners L.P.’s holdings, making the stock its 21st largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Destination Wealth Management increased its holdings in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Stephens Consulting LLC raised its position in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after acquiring an additional 891 shares during the last quarter. Worth Asset Management LLC lifted its stake in shares of Tesla by 383.1% during the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer’s stock valued at $3,358,000 after acquiring an additional 6,593 shares during the period. Strategic Family Wealth Counselors L.L.C. boosted its holdings in Tesla by 133.7% in 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 acquiring an additional 1,629 shares during the last quarter. Finally, Ameritas Advisory Services LLC increased its position in Tesla by 104.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock worth $23,242,000 after purchasing an additional 29,458 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 5.5 %

TSLA stock opened at $251.07 on Thursday. The business’s 50 day simple moving average is $267.29 and its 200 day simple moving average is $322.05. Tesla, Inc. has a 1-year low of $157.51 and a 1-year high of $488.54. The firm has a market capitalization of $807.56 billion, a PE ratio of 123.07, a PEG 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.

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

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’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 value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 374,228 shares of company stock worth $123,791,123. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Glj Research restated a “sell” rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a research report on Monday. Morgan Stanley restated a “buy” rating on shares of Tesla in a report on Tuesday. Truist Financial dropped their target price on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. JPMorgan Chase & Co. reduced their price target on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, Cfra Research cut Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $283.24.

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.