Lynch Asset Management Inc. Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Lynch Asset Management Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,500 shares of the electric vehicle producer’s stock after buying an additional 100 shares during the period. Lynch Asset Management Inc.’s holdings in Tesla were worth $1,685,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC boosted its position 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 purchasing an additional 1,655,203 shares during the period. Norges Bank purchased a new position in shares of Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC boosted its position 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 during the period. Finally, Northern Trust Corp boosted its position in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 818,509 shares of company stock valued at $273,791,775. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $319.11 on Friday. 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 stock has a market cap of $1.03 trillion, a P/E ratio of 156.43, a PEG ratio of 5.86 and a beta of 2.47. The company has a 50-day moving average of $297.32 and a two-hundred day moving average of $332.97. Tesla, Inc. has a 12-month low of $176.92 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results 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). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on TSLA shares. Cantor Fitzgerald decreased their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Wedbush set a $500.00 price objective on shares of Tesla in a report on Thursday, June 5th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Mizuho raised their price objective on shares of Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Finally, Wells Fargo & Company reduced their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $293.67.

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.