Wahed Invest LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Wahed Invest LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,033 shares of the electric vehicle producer’s stock after acquiring an additional 1,917 shares during the quarter. Tesla makes up approximately 4.6% of Wahed Invest LLC’s holdings, making the stock its 5th biggest position. Wahed Invest LLC’s holdings in Tesla were worth $27,878,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hengehold Capital Management LLC boosted its stake in Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares during the period. Strategic Investment Advisors MI raised its holdings in shares of Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after buying an additional 24 shares during the last quarter. Acropolis Investment Management LLC boosted its stake in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD grew its holdings in shares of Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after buying an additional 25 shares during the last quarter. Finally, Vista Finance LLC increased its position in Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after acquiring an additional 25 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

NASDAQ:TSLA opened at $280.52 on Friday. The company’s 50-day moving average is $259.13 and its two-hundred day moving average is $324.00. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $903.54 billion, a price-to-earnings ratio of 137.51, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on TSLA shares. JPMorgan Chase & Co. lowered their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the company a “buy” rating in a research report on Thursday, April 24th. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Benchmark restated a “buy” rating and issued a $350.00 target price on shares of Tesla in a research note on Wednesday, April 23rd. Finally, Glj Research reiterated a “sell” rating and set a $19.05 price target (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $287.46.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. This represents a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 486,618 shares of company stock worth $155,887,459. 20.70% of the stock is currently owned by insiders.

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.