Gotham Asset Management LLC Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Gotham Asset Management LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,319 shares of the electric vehicle producer’s stock after purchasing an additional 2,109 shares during the period. Tesla accounts for about 0.3% of Gotham Asset Management LLC’s investment portfolio, making the stock its 28th biggest position. Gotham Asset Management LLC’s holdings in Tesla were worth $27,590,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TSLA. Wealth Group Ltd. purchased a new position in Tesla during the 4th quarter valued at about $275,000. Hudson Valley Investment Advisors Inc. ADV purchased a new position in Tesla during the fourth quarter valued at approximately $557,000. Watts Gwilliam & Co. LLC raised its stake in Tesla by 8.7% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,666 shares of the electric vehicle producer’s stock worth $5,389,000 after buying an additional 1,093 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in Tesla by 5.8% during the fourth quarter. Fortitude Family Office LLC now owns 870 shares of the electric vehicle producer’s stock worth $351,000 after buying an additional 48 shares during the period. Finally, Marotta Asset Management bought a new stake in Tesla during the 4th quarter valued at $358,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSLA. Robert W. Baird decreased their price objective on Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Benchmark reissued a “buy” rating and set a $350.00 price target on shares of Tesla in a research report on Wednesday, April 23rd. Roth Mkm cut their price objective on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $287.46.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $25,466,850. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,623 shares of company stock valued at $114,400,501 in the last three months. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

TSLA opened at $298.05 on Friday. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The firm has a market capitalization of $960.01 billion, a PE ratio of 146.10, a PEG ratio of 5.86 and a beta of 2.43. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $258.65 and its 200 day moving average price is $326.64.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.