Cynosure Group LLC Acquires 961 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cynosure Group LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 34.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,711 shares of the electric vehicle producer’s stock after purchasing an additional 961 shares during the period. Cynosure Group LLC’s holdings in Tesla were worth $1,499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hengehold Capital Management LLC increased its holdings in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after buying an additional 24 shares in the last quarter. Strategic Investment Advisors MI grew its position in Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after acquiring an additional 24 shares during the last quarter. Acropolis Investment Management LLC increased its holdings in Tesla by 0.9% in the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares in the last quarter. Mount Vernon Associates Inc. MD raised its position in Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares during the last quarter. Finally, Vista Finance LLC raised its position in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.6 %

Tesla stock opened at $268.46 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $314.87 and its two-hundred day moving average price is $323.48. The firm has a market capitalization of $863.51 billion, a price-to-earnings ratio of 131.60, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TSLA shares. JPMorgan Chase & Co. lowered their price objective on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research note on Wednesday, March 12th. Canaccord Genuity Group reissued a “buy” rating and set a $404.00 target price on shares of Tesla in a report on Monday, March 17th. Barclays raised their price target on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, Morgan Stanley lowered their target price on Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $317.75.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’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 transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The shares were 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 owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 over the last 90 days. 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.