Voloridge Investment Management LLC Purchases Shares of 762,257 Tesla, Inc. (NASDAQ:TSLA)

Voloridge Investment Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 762,257 shares of the electric vehicle producer’s stock, valued at approximately $307,830,000. Tesla accounts for 1.1% of Voloridge Investment Management LLC’s investment portfolio, making the stock its 2nd biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. True Wealth Design LLC increased its position in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. increased its position in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. increased its position in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC acquired a new stake in shares of Tesla in the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Tesla in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TSLA. BNP Paribas set a $137.00 price target on Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price target on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. Wedbush reissued an “outperform” rating and set a $350.00 price target on shares of Tesla in a research report on Thursday, May 1st. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Finally, Argus set a $410.00 price target on Tesla in a research report on Thursday, April 24th. Ten equities research 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 issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $289.43.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now owns 23,084 shares of the company’s stock, valued at $6,833,325.68. The trade was a 20.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 412,623 shares of company stock worth $115,600,501. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 2.3%

Shares of TSLA opened at $342.09 on Tuesday. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 167.69, a PEG ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a fifty day moving average of $269.23 and a 200-day moving average of $331.30.

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

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.