Voloridge Investment Management LLC Buys Shares of 762,257 Tesla, Inc. (NASDAQ:TSLA)

Voloridge Investment Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 762,257 shares of the electric vehicle producer’s stock, valued at approximately $307,830,000. Tesla makes up approximately 1.1% of Voloridge Investment Management LLC’s investment portfolio, making the stock its 2nd biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hengehold Capital Management LLC lifted its position in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after buying an additional 24 shares during the last quarter. Strategic Investment Advisors MI lifted its position in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after buying an additional 24 shares during the last quarter. Vista Finance LLC lifted its position in shares of Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after buying an additional 25 shares during the last quarter. Prospect Financial Services LLC lifted its position in shares of Tesla by 0.3% in the fourth quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock worth $3,029,000 after buying an additional 26 shares during the last quarter. Finally, Jmac Enterprises LLC lifted its position in shares of Tesla by 0.7% in the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock worth $1,569,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. Piper Sandler set a $400.00 price objective on Tesla in a research report on Tuesday, May 6th. HSBC cut their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research report on Thursday, March 27th. Morgan Stanley reissued a “buy” rating and set a $430.00 price objective on shares of Tesla in a research report on Tuesday, April 22nd. Glj Research reissued a “sell” rating and set a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $289.43.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 85,000 shares in the company, valued at $25,466,850. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a document filed 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 on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the sale, the chief financial officer now directly owns 23,084 shares in the company, valued at $6,833,325.68. The trade was a 20.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 412,623 shares of company stock worth $115,600,501. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 2.3%

Shares of TSLA opened at $342.09 on Tuesday. The firm has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 167.69, a PEG ratio of 5.86 and a beta of 2.43. 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 business’s fifty day moving average price is $269.23 and its two-hundred day moving average price is $331.30. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 the consensus estimate 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 previous year, the business posted $0.45 earnings per share. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

About Tesla

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.