Maytus Capital Management LLC Takes $2.42 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Maytus Capital Management LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, Holdings Channel.com reports. The firm acquired 6,000 shares of the electric vehicle producer’s stock, valued at approximately $2,423,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Horrell Capital Management Inc. increased its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $37,000. CoreFirst Bank & Trust purchased a new stake in Tesla during the fourth quarter worth about $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Tesla in the fourth quarter valued at approximately $39,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of TSLA opened at $318.38 on Tuesday. The stock has a market capitalization of $1.03 trillion, a PE ratio of 156.07, 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 business’s fifty day moving average price is $259.44 and its 200 day moving average price is $328.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 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 period last year, the business earned $0.45 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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 dated 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 directly owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. This trade represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This trade represents a 9.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,623 shares of company stock worth $114,400,501. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TSLA has been the topic of a number of analyst reports. UBS Group lowered their target price on shares of Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Argus set a $410.00 price target on shares of Tesla in a research report on Thursday, April 24th. Truist Financial set a $280.00 price target on Tesla in a research report on Tuesday, April 22nd. Barclays cut their target price on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $287.46.

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.