Bailard Inc. Purchases 2,643 Shares of Tesla, Inc. (NASDAQ:TSLA)

Bailard Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 38.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,521 shares of the electric vehicle producer’s stock after acquiring an additional 2,643 shares during the quarter. Bailard Inc.’s holdings in Tesla were worth $2,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Wyrmwood Management LLC bought a new stake in Tesla during the 4th quarter worth approximately $25,000. Lam Group Inc. bought a new position in shares of Tesla in the 4th quarter worth $25,000. Mendota Financial Group LLC increased its holdings in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the last quarter. Ogorek Anthony Joseph NY ADV increased its holdings in shares of Tesla by 94.5% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 69 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. increased its holdings in shares of Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup increased their target price on shares of Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday. Canaccord Genuity Group dropped their price target on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research report on Wednesday. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research report on Wednesday. HSBC dropped their price target on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research report on Wednesday. Finally, Sanford C. Bernstein dropped their target price on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research report on Tuesday, March 26th. Eight 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’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $186.70.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last quarter. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $1.72 during midday trading on Friday, reaching $168.46. 34,584,747 shares of the stock were exchanged, compared to its average volume of 102,400,898. The firm has a market cap of $536.51 billion, a price-to-earnings ratio of 43.41, a PEG ratio of 4.28 and a beta of 2.39. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The firm has a 50-day simple moving average of $175.67 and a two-hundred day simple moving average of $208.64. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter last year, the business earned $1.07 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts anticipate that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

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.