Ellis Investment Partners LLC acquired a new position in shares of Tesla Inc (NASDAQ:TSLA) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 36,381 shares of the electric vehicle producer’s stock, valued at approximately $36,000.
Several other institutional investors have also recently added to or reduced their stakes in TSLA. Norges Bank purchased a new stake in shares of Tesla during the 4th quarter worth $470,949,000. Jennison Associates LLC lifted its position in Tesla by 10.5% in the fourth quarter. Jennison Associates LLC now owns 5,322,358 shares of the electric vehicle producer’s stock valued at $1,771,281,000 after acquiring an additional 505,076 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. purchased a new stake in Tesla in the fourth quarter valued at $79,472,000. Lord Abbett & CO. LLC purchased a new stake in Tesla in the fourth quarter valued at $38,582,000. Finally, Baillie Gifford & Co. lifted its position in Tesla by 0.8% in the fourth quarter. Baillie Gifford & Co. now owns 13,234,382 shares of the electric vehicle producer’s stock valued at $4,404,403,000 after acquiring an additional 108,931 shares during the last quarter. 59.71% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Elon Musk purchased 102,880 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $243.00 per share, with a total value of $24,999,840.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brad W. Buss sold 38,540 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $228.37, for a total transaction of $8,801,379.80. Following the transaction, the director now directly owns 34,874 shares of the company’s stock, valued at approximately $7,964,175.38. The disclosure for this sale can be found here. Insiders have sold 117,100 shares of company stock worth $30,574,286 over the last 90 days. 22.80% of the stock is currently owned by company insiders.
Shares of Tesla stock traded down $12.35 on Wednesday, reaching $192.73. 18,268,904 shares of the stock were exchanged, compared to its average volume of 9,693,265. Tesla Inc has a 1-year low of $191.78 and a 1-year high of $387.46. The company has a quick ratio of 0.42, a current ratio of 0.83 and a debt-to-equity ratio of 1.79. The firm has a market cap of $36.66 billion, a price-to-earnings ratio of -33.69 and a beta of 0.27.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.51) by ($1.59). Tesla had a negative return on equity of 18.23% and a negative net margin of 4.29%. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter last year, the firm earned ($3.35) earnings per share. The company’s revenue was up 33.2% compared to the same quarter last year. Equities research analysts anticipate that Tesla Inc will post -4.64 EPS for the current year.
A number of equities research analysts recently weighed in on TSLA shares. Barclays set a $192.00 price target on shares of Tesla and gave the company a “sell” rating in a research report on Tuesday, April 9th. TheStreet cut shares of Tesla from a “c-” rating to a “d+” rating in a research report on Monday, April 29th. CIBC reissued an “outperform” rating and issued a $437.00 price target (up from $418.00) on shares of Tesla in a research report on Thursday, January 31st. Goldman Sachs Group reissued a “sell” rating and issued a $210.00 price target on shares of Tesla in a research report on Friday, March 1st. Finally, Jefferies Financial Group set a $450.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Thursday, January 31st. Seventeen equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $291.00.
Tesla Company Profile
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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