10Elms LLP Acquires Shares of 123 Tesla, Inc. (NASDAQ:TSLA)

10Elms LLP purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel reports. The fund purchased 123 shares of the electric vehicle producer’s stock, valued at approximately $50,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Wealth Group Ltd. purchased a new position in Tesla during the 4th quarter valued at about $275,000. Comprehensive Financial Planning Inc. PA purchased a new position in Tesla during the fourth quarter valued at approximately $1,361,000. Tallon Kerry Patrick bought a new stake in Tesla during the 4th quarter worth approximately $374,000. Wedge Capital Management L L P NC lifted its stake in Tesla by 27.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 3,164 shares of the electric vehicle producer’s stock worth $1,278,000 after purchasing an additional 675 shares in the last quarter. Finally, Jackson Square Capital LLC bought a new position in Tesla in the 4th quarter valued at $904,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 3,000 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $350.11, for a total transaction of $1,050,330.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $9,435,464.50. The trade was a 10.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,623 shares of company stock valued at $116,650,831 over the last quarter. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald lowered their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler set a $400.00 price target on Tesla in a report on Tuesday, May 6th. Mizuho boosted their price objective on Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Wedbush reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Tesla in a research note on Thursday, May 1st. Finally, Cfra Research lowered shares of Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Ten 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 issued a strong buy rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $289.43.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $343.82 on Wednesday. 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 company has a market cap of $1.11 trillion, a price-to-earnings ratio of 168.54, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The company has a 50-day moving average price of $271.29 and a 200-day moving average price of $331.39.

Tesla (NASDAQ:TSLA) last released its quarterly 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 business had revenue of $19.34 billion for 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 period in the previous year, the company earned $0.45 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS 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.