Rossby Financial LCC Makes New $419,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Rossby Financial LCC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,037 shares of the electric vehicle producer’s stock, valued at approximately $419,000.

A number of other hedge funds have also made changes to their positions in TSLA. Horrell Capital Management Inc. raised its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. grew its holdings in shares of Tesla by 193.3% during the 4th 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 acquired a new stake in shares of Tesla in the fourth quarter worth $38,000. Delos Wealth Advisors LLC raised its position in Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $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 worth approximately $44,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $252.35 on Tuesday. The stock has a market cap of $811.69 billion, a PE ratio of 123.70, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. 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 business has a fifty day simple moving average of $282.67 and a 200-day simple moving average of $323.51.

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

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Wedbush decreased their price objective on shares of Tesla from $550.00 to $315.00 and set an “outperform” rating for the company in a research report on Monday, April 7th. Royal Bank of Canada dropped their target price on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Benchmark cut their price target on Tesla from $475.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Oppenheimer reissued a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Cowen raised Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Eight research analysts have rated the stock with a sell rating, nine 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 data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $298.59.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 374,228 shares of company stock valued at $123,791,123. Company insiders own 20.70% of the company’s stock.

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.