Tributary Capital Management LLC Takes $353,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Tributary Capital Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 875 shares of the electric vehicle producer’s stock, valued at approximately $353,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in Tesla during the 3rd quarter worth $29,000. Clean Yield Group grew its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Tesla during the third quarter valued at $35,000. M&R Capital Management Inc. raised its holdings in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Finally, Finley Financial LLC purchased a new stake in Tesla in the fourth quarter worth about $64,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock valued at $212,451,751 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on TSLA. The Goldman Sachs Group raised their target price on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Wedbush lifted their price objective on shares of Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Guggenheim upped their price objective on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $313.84.

Tesla Trading Down 2.3 %

Shares of NASDAQ:TSLA opened at $397.15 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The business has a 50 day moving average of $398.82 and a two-hundred day moving average of $294.47. The company has a market capitalization of $1.27 trillion, a PE ratio of 108.81, a PEG ratio of 8.42 and a beta of 2.30.

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.