Princeton Capital Management LLC Acquires 946 Shares of Tesla, Inc. (NASDAQ:TSLA)

Princeton Capital Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,950 shares of the electric vehicle producer’s stock after purchasing an additional 946 shares during the period. Tesla makes up 1.1% of Princeton Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. Princeton Capital Management LLC’s holdings in Tesla were worth $3,614,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Horrell Capital Management Inc. increased its holdings 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 acquiring an additional 34 shares during the last quarter. GS Investments Inc. boosted its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust bought a new position in shares of Tesla in the fourth quarter valued at approximately $38,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Tesla in the fourth quarter worth $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Tesla during the 4th quarter worth $46,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on TSLA shares. JPMorgan Chase & Co. cut their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Cantor Fitzgerald upgraded Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 target price for the company in a research note on Wednesday, March 19th. Robert W. Baird dropped their price target on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. 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, Barclays boosted their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $318.93.

Tesla Stock Up 11.9 %

Shares of NASDAQ TSLA opened at $278.39 on Tuesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The firm’s 50-day simple moving average is $332.69 and its 200 day simple moving average is $321.49. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $895.45 billion, a price-to-earnings ratio of 136.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

About Tesla

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.