Acas LLC Purchases 70 Shares of Tesla, Inc. (NASDAQ:TSLA)

Acas LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,040 shares of the electric vehicle producer’s stock after acquiring an additional 70 shares during the period. Acas LLC’s holdings in Tesla were worth $258,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wyrmwood Management LLC bought a new position in Tesla in the fourth quarter valued at about $25,000. Lam Group Inc. bought a new position in Tesla in the fourth quarter valued at about $25,000. Mendota Financial Group LLC boosted its holdings in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares during the last quarter. Ogorek Anthony Joseph NY ADV boosted its holdings in Tesla by 94.5% in the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 69 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. boosted its holdings in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $3.18 during midday trading on Thursday, hitting $165.31. 39,271,563 shares of the company’s stock were exchanged, compared to its average volume of 102,082,055. The company’s 50 day moving average price is $176.28 and its 200 day moving average price is $208.91. The firm has a market capitalization of $526.48 billion, a PE ratio of 41.36, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. 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 (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.68%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 earnings per share. As a group, analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TSLA shares. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Tesla in a report on Friday, April 19th. Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Wednesday. Robert W. Baird restated an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Wednesday, April 17th. Finally, Truist Financial reduced their target price on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $186.22.

Insider Activity

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the 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 $2,920,950. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. In the last three months, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is currently owned by company insiders.

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.