Driehaus Capital Management LLC Invests $838,000 in Tesla, Inc. (NASDAQ:TSLA)

Driehaus Capital Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,074 shares of the electric vehicle producer’s stock, valued at approximately $838,000.

Several other large investors have also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. raised its stake in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank acquired a new stake in Tesla during the fourth quarter valued at approximately $14,420,248,000. FMR LLC boosted its stake in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the sale, the director now owns 85,000 shares in the company, valued at $25,466,850. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now directly owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. The trade was a 20.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 408,623 shares of company stock valued at $114,400,501. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

NASDAQ:TSLA opened at $298.05 on Friday. The stock’s 50-day simple moving average is $258.65 and its 200 day simple moving average is $327.43. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market cap of $960.01 billion, a P/E ratio of 146.10, a P/E/G ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $22.93 billion. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of several research analyst reports. UBS Group cut their price objective on Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Mizuho cut their price objective on shares of Tesla from $375.00 to $325.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada lowered their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Finally, Glj Research restated a “sell” rating and issued a $19.05 price target (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $287.46.

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.