Moore Capital Management LP Buys Shares of 39,750 Tesla, Inc. (NASDAQ:TSLA)

Moore Capital Management LP bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 39,750 shares of the electric vehicle producer’s stock, valued at approximately $10,544,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Axiom Financial Strategies LLC raised its position in shares of Tesla by 9.8% in the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after acquiring an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Tesla by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after acquiring an additional 164,789 shares in the last quarter. MAS Advisors LLC raised its position in shares of Tesla by 25.7% in the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after acquiring an additional 81 shares in the last quarter. Ergoteles LLC raised its position in shares of Tesla by 33.4% in the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock worth $3,844,000 after acquiring an additional 893 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Tesla by 6.8% in the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after acquiring an additional 4,593 shares in the last quarter. 43.00% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of TSLA opened at $182.00 on Thursday. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $384.29. The stock’s 50 day moving average is $166.67 and its two-hundred day moving average is $202.54. The firm has a market capitalization of $575.87 billion, a PE ratio of 50.23, a P/E/G ratio of 2.34 and a beta of 2.06. The company has a current ratio of 1.53, a quick ratio of 1.05 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The electric vehicle producer reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.21. Tesla had a return on equity of 31.71% and a net margin of 15.41%. The company had revenue of $24.32 billion for the quarter, compared to analyst estimates of $24.26 billion. During the same quarter in the previous year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 37.2% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 3.43 earnings per share for the current year.

Insider Activity

In other news, CFO Zachary Kirkhorn sold 3,752 shares of Tesla stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total transaction of $410,131.12. Following the completion of the sale, the chief financial officer now directly owns 200,411 shares in the company, valued at approximately $21,906,926.41. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Zachary Kirkhorn sold 3,752 shares of Tesla stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total transaction of $410,131.12. Following the completion of the sale, the chief financial officer now directly owns 200,411 shares in the company, valued at approximately $21,906,926.41. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Vaibhav Taneja sold 2,466 shares of Tesla stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $195.79, for a total transaction of $482,818.14. Following the sale, the chief accounting officer now owns 100,458 shares of the company’s stock, valued at $19,668,671.82. The disclosure for this sale can be found here. In the last three months, insiders sold 10,128,221 shares of company stock worth $1,637,193,192. Company insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TSLA shares. Morgan Stanley dropped their target price on Tesla from $250.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 25th. Piper Sandler decreased their price objective on Tesla from $340.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday, January 18th. Edward Jones raised Tesla from a “hold” rating to a “buy” rating in a report on Thursday, January 5th. Deutsche Bank Aktiengesellschaft reduced their target price on Tesla from $250.00 to $220.00 in a report on Thursday, January 19th. Finally, Barclays began coverage on Tesla in a research report on Tuesday, February 14th. They issued an “overweight” rating and a $275.00 price target for the company. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $221.39.

About Tesla

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.