Scge Management L.P. Invests $183.04 Million in Tesla, Inc. $TSLA

Scge Management L.P. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) during the fourth quarter, Holdings Channel reports. The firm purchased 407,000 shares of the electric vehicle producer’s stock, valued at approximately $183,036,000. Tesla comprises about 4.2% of Scge Management L.P.’s holdings, making the stock its 10th largest holding.

A number of other hedge funds also recently bought and sold shares of the business. South Plains Financial Inc. raised its holdings in Tesla by 3.6% in the 4th quarter. South Plains Financial Inc. now owns 3,961 shares of the electric vehicle producer’s stock valued at $1,781,000 after acquiring an additional 136 shares during the last quarter. MML Investors Services LLC lifted its holdings in Tesla by 7.8% in the fourth quarter. MML Investors Services LLC now owns 364,557 shares of the electric vehicle producer’s stock valued at $163,949,000 after acquiring an additional 26,534 shares during the last quarter. Mariner LLC grew its holdings in shares of Tesla by 4.4% during the 4th quarter. Mariner LLC now owns 1,825,358 shares of the electric vehicle producer’s stock worth $821,046,000 after purchasing an additional 76,420 shares during the period. Nicolet Advisory Services LLC increased its position in shares of Tesla by 5.1% during the 4th quarter. Nicolet Advisory Services LLC now owns 10,109 shares of the electric vehicle producer’s stock worth $4,539,000 after purchasing an additional 489 shares during the last quarter. Finally, Fifth Lane Capital LP raised its holdings in Tesla by 160.0% in the 4th quarter. Fifth Lane Capital LP now owns 2,600 shares of the electric vehicle producer’s stock valued at $1,169,000 after buying an additional 1,600 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $406.43 on Monday. The company has a market cap of $1.53 trillion, a P/E ratio of 372.87, a PEG ratio of 16.25 and a beta of 1.80. Tesla, Inc. has a fifty-two week low of $288.77 and a fifty-two week high of $498.83. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average price is $398.35 and its 200 day moving average price is $416.00.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 1.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kathleen Wilson-Thompson sold 26,409 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of the transaction, the director directly owned 48,399 shares of the company’s stock, valued at $18,300,145.89. The trade was a 35.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the sale, the chief financial officer owned 18,106 shares in the company, valued at approximately $8,147,700. This trade represents a 14.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 57,824 shares of company stock valued at $21,657,588. 19.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. JPMorgan Chase & Co. raised shares of Tesla from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $145.00 to $475.00 in a research note on Friday, June 5th. Bank of America began coverage on shares of Tesla in a report on Wednesday, March 4th. They issued a “buy” rating and a $460.00 price objective on the stock. Canaccord Genuity Group increased their price objective on shares of Tesla from $420.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Roth Mkm reissued a “buy” rating on shares of Tesla in a research report on Thursday, April 23rd. Finally, Phillip Securities decreased their price target on Tesla from $220.00 to $215.00 and set a “sell” rating on the stock in a research note on Wednesday, May 13th. Twenty-two investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $404.37.

View Our Latest Analysis on Tesla

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About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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