Grange Capital LLC Acquires Shares of 1,555 Tesla, Inc. (NASDAQ:TSLA)

Grange Capital LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,555 shares of the electric vehicle producer’s stock, valued at approximately $628,000.

Several other institutional investors have also recently made changes to their positions in TSLA. Hengehold Capital Management LLC boosted its holdings in 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. Acropolis Investment Management LLC raised its position in shares of Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after acquiring an additional 25 shares during the period. Mount Vernon Associates Inc. MD boosted its stake in shares of Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after acquiring an additional 25 shares in the last quarter. Albion Financial Group UT increased its stake in shares of Tesla by 0.5% in the 4th quarter. Albion Financial Group UT now owns 7,099 shares of the electric vehicle producer’s stock valued at $2,867,000 after purchasing an additional 34 shares in the last quarter. Finally, Connable Office Inc. raised its holdings in Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Jefferies Financial Group upped their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Canaccord Genuity Group lifted their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley upped their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $313.84.

Tesla Stock Down 2.3 %

Shares of NASDAQ TSLA opened at $397.15 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $398.82 and its two-hundred day moving average is $294.47. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a market cap of $1.27 trillion, a price-to-earnings ratio of 108.81, a PEG ratio of 8.42 and a beta of 2.30.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 617,886 shares of company stock valued at $212,451,751. 20.70% of the stock is currently owned by corporate insiders.

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.