Sollinda Capital Management LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Sollinda Capital Management LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 624 shares of the electric vehicle producer’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. World Investment Advisors LLC grew its stake in shares of Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after buying an additional 184,459 shares during the period. Destination Wealth Management raised its stake in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Stephens Consulting LLC raised its stake in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after acquiring an additional 891 shares during the period. Vinva Investment Management Ltd raised its stake in Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares during the period. Finally, MML Investors Services LLC grew its position in Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after purchasing an additional 9,919 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $380.00 in a report on Monday, December 2nd. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $388.00 in a report on Friday. Mizuho restated an “outperform” rating and set a $515.00 price objective on shares of Tesla in a report on Thursday, January 30th. Finally, New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research note on Monday, January 6th. Nine analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $326.31.

Tesla Stock Down 15.4 %

Shares of NASDAQ:TSLA opened at $222.15 on Tuesday. The company has a 50 day moving average price of $363.87 and a two-hundred day moving average price of $319.46. 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 $138.80 and a 52 week high of $488.54. The company has a market capitalization of $714.55 billion, a PE ratio of 108.90, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 422,452 shares of company stock worth $153,659,530. 20.70% of the stock is owned by insiders.

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.