Kraft Davis & Associates LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Kraft Davis & Associates LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,180 shares of the electric vehicle producer’s stock after purchasing an additional 78 shares during the quarter. Kraft Davis & Associates LLC’s holdings in Tesla were worth $542,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mount Vernon Associates Inc. MD grew its position in shares of Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares in the last quarter. Oak Ridge Investments LLC grew its position in shares of Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after purchasing an additional 1,405 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of Tesla by 3.7% in the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after purchasing an additional 25,943 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Tesla by 11.8% in the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after purchasing an additional 81,729 shares in the last quarter. Finally, First National Corp MA ADV grew its position in shares of Tesla by 30.0% in the fourth quarter. First National Corp MA ADV now owns 1,401 shares of the electric vehicle producer’s stock valued at $348,000 after purchasing an additional 323 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 1.9 %

Shares of TSLA traded down $2.88 during trading hours on Friday, hitting $147.05. The company had a trading volume of 86,914,652 shares, compared to its average volume of 101,650,617. The firm has a market cap of $468.32 billion, a P/E ratio of 34.12, a P/E/G ratio of 4.11 and a beta of 2.39. The stock’s 50 day moving average price is $178.51 and its 200 day moving average price is $211.48. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 52-week low of $146.22 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the prior year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts predict that Tesla, Inc. will post 1.97 EPS for the current year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 in the last 90 days. Company insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Daiwa Capital Markets lowered Tesla from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Citigroup dropped their price objective on Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Piper Sandler dropped their price objective on Tesla from $225.00 to $205.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. KGI Securities reissued a “neutral” rating and set a $213.00 price objective (down previously from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Finally, TD Cowen dropped their price objective on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Ten analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $194.70.

Tesla Company 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.