Signature Resources Capital Management LLC Takes $250,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Signature Resources Capital Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,005 shares of the electric vehicle producer’s stock, valued at approximately $250,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wyrmwood Management LLC purchased a new position in shares of Tesla during the fourth quarter worth approximately $25,000. Lam Group Inc. bought a new stake in shares of Tesla in the 4th quarter worth approximately $25,000. Mendota Financial Group LLC lifted its holdings in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. lifted its holdings in shares of Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares during the last quarter. Finally, Cordant Inc. bought a new stake in shares of Tesla in the 3rd quarter worth approximately $53,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 0.7 %

TSLA stock traded up $1.18 during trading on Friday, hitting $181.19. 75,491,539 shares of the stock traded hands, compared to its average volume of 112,969,304. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The firm’s 50 day moving average is $173.85 and its two-hundred day moving average is $205.42. The stock has a market cap of $577.85 billion, a price-to-earnings ratio of 46.22, a price-to-earnings-growth ratio of 4.74 and a beta of 2.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Sanford C. Bernstein lowered their price objective on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Mizuho lowered their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. Finally, Wedbush reiterated an “outperform” rating and set a $275.00 price target on shares of Tesla in a report on Monday, April 29th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $185.90.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% 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.