Sage Mountain Advisors LLC Acquires 1,893 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sage Mountain Advisors LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,317 shares of the electric vehicle producer’s stock after acquiring an additional 1,893 shares during the quarter. Tesla makes up about 0.7% of Sage Mountain Advisors LLC’s holdings, making the stock its 25th largest position. Sage Mountain Advisors LLC’s holdings in Tesla were worth $10,224,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC bought a new stake in Tesla during the third quarter worth $29,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla during the fourth quarter worth $46,000. PayPay Securities Corp lifted its holdings in Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after acquiring an additional 69 shares during the period. Peterson Financial Group Inc. bought a new stake in Tesla during the third quarter worth $35,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of Tesla in the fourth quarter valued at $55,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated 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 owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 422,452 shares of company stock valued at $153,659,530. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA opened at $222.15 on Tuesday. The stock has a 50-day moving average price of $363.87 and a 200-day moving average price of $319.46. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. 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 stock has a market capitalization of $714.55 billion, a P/E ratio of 108.90, a PEG ratio of 5.86 and a beta of 2.50.

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

Analysts Set New Price Targets

Several brokerages have issued reports on TSLA. Wells Fargo & Company boosted their target price on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, January 30th. Stifel Nicolaus lowered their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research note on Monday, January 6th. Mizuho restated an “outperform” rating and issued a $515.00 target price on shares of Tesla in a research note on Thursday, January 30th. Finally, Morgan Stanley restated a “top pick” rating and issued a $430.00 target price on shares of Tesla in a research note on Monday, March 3rd. Nine research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $326.31.

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.