Lpwm LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Lpwm LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 83.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,934 shares of the electric vehicle producer’s stock after buying an additional 882 shares during the period. Lpwm LLC’s holdings in Tesla were worth $332,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Tesla in the fourth quarter valued at $7,844,757,000. International Assets Investment Management LLC grew its position in shares of Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares during the period. Vanguard Group Inc. grew its position in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares during the period. Morgan Stanley grew its position in shares of Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders sold 104,855 shares of company stock worth $19,285,643 over the last quarter. Corporate insiders own 25.10% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $9.02 on Wednesday, reaching $196.37. 95,407,381 shares of the company traded hands, compared to its average volume of 95,510,969. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company’s 50 day moving average is $175.02 and its 200-day moving average is $192.25. The stock has a market capitalization of $626.26 billion, a PE ratio of 50.09, a P/E/G ratio of 4.65 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, analysts anticipate that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stifel Nicolaus assumed coverage on Tesla in a research report on Tuesday. They set a “buy” rating and a $265.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Piper Sandler restated an “overweight” rating and set a $205.00 price objective on shares of Tesla in a research note on Monday, April 22nd. Finally, Wells Fargo & Company cut their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday, April 12th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $187.30.

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.