FORA Capital LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

FORA Capital LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,293 shares of the electric vehicle producer’s stock, valued at approximately $9,003,000. Tesla makes up approximately 1.0% of FORA Capital LLC’s portfolio, making the stock its 19th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares in the last quarter. Innova Wealth Partners acquired a new position in Tesla in the fourth quarter worth $415,000. Park National Corp OH raised its holdings in shares of Tesla by 31.1% during the fourth quarter. Park National Corp OH now owns 1,973 shares of the electric vehicle producer’s stock worth $797,000 after purchasing an additional 468 shares during the period. Oriental Harbor Investment Fund lifted its holdings in Tesla by 116.3% in the fourth quarter. Oriental Harbor Investment Fund now owns 121,521 shares of the electric vehicle producer’s stock worth $49,075,000 after acquiring an additional 65,335 shares during the last quarter. Finally, Worth Asset Management LLC grew its holdings 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 purchasing an additional 6,593 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research report on Tuesday, April 22nd. HSBC cut their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Royal Bank of Canada decreased their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Raymond James cut Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $287.46.

Get Our Latest Report on TSLA

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $25,466,850. 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 accessible through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the transaction, the chief financial officer now owns 23,084 shares in the company, valued at $6,833,325.68. The trade was a 20.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 296,228 shares of company stock worth $83,590,784 over the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $276.22 on Thursday. The firm’s 50-day moving average is $258.13 and its 200-day moving average is $325.63. The company has a market cap of $889.69 billion, a price-to-earnings ratio of 135.40, a PEG ratio of 5.86 and a beta of 2.43. 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 $167.41 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly 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 firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the company earned $0.45 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company Profile

(Free Report)

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.

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