Quantinno Capital Management LP Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Quantinno Capital Management LP boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 23.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,392 shares of the electric vehicle producer’s stock after acquiring an additional 57,793 shares during the quarter. Tesla accounts for approximately 1.2% of Quantinno Capital Management LP’s holdings, making the stock its 8th largest position. Quantinno Capital Management LP’s holdings in Tesla were worth $120,907,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Wealth Group Ltd. bought a new position in shares of Tesla in the 4th quarter valued at about $275,000. RMR Wealth Builders increased its stake in shares of Tesla by 72.0% during the fourth quarter. RMR Wealth Builders now owns 15,376 shares of the electric vehicle producer’s stock valued at $6,209,000 after buying an additional 6,439 shares during the period. Claro Advisors LLC boosted its stake in shares of Tesla by 4.3% during the fourth quarter. Claro Advisors LLC now owns 15,394 shares of the electric vehicle producer’s stock valued at $6,217,000 after purchasing an additional 637 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new position in Tesla in the fourth quarter valued at about $303,000. Finally, Persium Advisors LLC acquired a new stake in Tesla in the fourth quarter valued at approximately $201,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft cut their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Morgan Stanley restated a “buy” rating and set a $430.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Truist Financial set a $280.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. Guggenheim restated a “sell” rating and set a $170.00 price objective on shares of Tesla in a research report on Thursday, April 24th. Finally, StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $287.46.

Tesla Stock Up 4.9%

Shares of NASDAQ:TSLA opened at $334.07 on Wednesday. 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 business has a 50 day simple moving average of $260.85 and a two-hundred day simple moving average of $328.28. The firm has a market capitalization of $1.08 trillion, a PE ratio of 163.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the company earned $0.45 EPS. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, May 9th. The stock was sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $8,085,000. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,623 shares of company stock valued at $115,600,501 over the last quarter. 20.70% of the stock is owned by insiders.

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.