AlphaQuest LLC Has $78,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

AlphaQuest LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 97.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 193 shares of the electric vehicle producer’s stock after selling 8,837 shares during the period. AlphaQuest LLC’s holdings in Tesla were worth $78,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB increased its position in shares of Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after buying an additional 194,796 shares in the last quarter. United Bank acquired a new position in Tesla during the third quarter worth $287,000. SouthState Corp raised its position in Tesla by 11.0% during the third quarter. SouthState Corp now owns 2,989 shares of the electric vehicle producer’s stock worth $782,000 after acquiring an additional 297 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Tesla by 12.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 468,774 shares of the electric vehicle producer’s stock valued at $122,645,000 after acquiring an additional 52,974 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TSLA. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Glj Research reissued a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Cantor Fitzgerald raised shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective for the company in a research report on Wednesday. Benchmark began coverage on shares of Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and issued a $550.00 price objective on shares of Tesla in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $321.12.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. This represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 in the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $235.86 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a market cap of $758.65 billion, a P/E ratio of 115.62, a P/E/G ratio of 5.86 and a beta of 2.50. The business has a fifty day simple moving average of $341.28 and a 200 day simple moving average of $320.02.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate 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 forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.