Tesla, Inc. (NASDAQ:TSLA) Stake Boosted by Trexquant Investment LP

Trexquant Investment LP grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 27.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,409 shares of the electric vehicle producer’s stock after purchasing an additional 29,880 shares during the quarter. Tesla comprises about 0.7% of Trexquant Investment LP’s holdings, making the stock its 2nd biggest holding. Trexquant Investment LP’s holdings in Tesla were worth $56,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in TSLA. World Investment Advisors LLC lifted its stake in shares of Tesla by 1,248.9% in the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares in the last quarter. Destination Wealth Management grew its stake in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after acquiring an additional 1,359 shares during the period. Stephens Consulting LLC raised its holdings in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after purchasing an additional 891 shares during the last quarter. MML Investors Services LLC lifted its position in Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSLA. Piper Sandler cut their price objective on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Wedbush restated an “outperform” rating and set a $550.00 price objective on shares of Tesla in a research report on Thursday, March 27th. Benchmark started coverage on Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective on the stock. Truist Financial raised their target price on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $317.75.

Tesla Stock Performance

Shares of TSLA stock opened at $259.16 on Tuesday. The business has a fifty day moving average of $317.98 and a 200 day moving average of $323.21. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market capitalization of $833.59 billion, a price-to-earnings ratio of 127.04, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 in the last ninety days. Insiders own 20.70% of the company’s stock.

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.