Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 183.9% during the second quarter, Holdings Channel.com reports. The fund owned 712,651 shares of the electric vehicle producer’s stock after acquiring an additional 461,668 shares during the period. Los Angeles Capital Management LLC’s holdings in Tesla were worth $141,019,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. DDFG Inc increased its stake in Tesla by 7.1% during the 4th quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock worth $265,000 after buying an additional 71 shares during the period. Vantage Financial Partners LLC increased its holdings in Tesla by 6.4% during the 4th quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock worth $1,432,000 after purchasing an additional 346 shares during the period. Gilbert & Cook Inc. raised its position in Tesla by 8.7% in the 4th quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after purchasing an additional 1,086 shares in the last quarter. 9258 Wealth Management LLC boosted its stake in shares of Tesla by 1.1% in the 4th quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock valued at $1,532,000 after buying an additional 69 shares during the period. Finally, Rollins Financial lifted its stake in Tesla by 10.2% in the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after acquiring an additional 11,191 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TSLA. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Citigroup dropped their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 price objective on shares of Tesla in a report on Monday, July 1st. The Goldman Sachs Group reduced their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, HSBC upped their target price on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Nine analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $204.21.

Tesla Price Performance

TSLA traded down $19.44 during trading on Friday, reaching $210.73. 111,432,758 shares of the stock were exchanged, compared to its average volume of 68,186,248. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a market capitalization of $673.21 billion, a price-to-earnings ratio of 53.76, a P/E/G ratio of 5.80 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The business’s 50 day moving average price is $224.47 and its two-hundred day moving average price is $193.60.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

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.