Xponance Inc. Has $186.19 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Xponance Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 718,438 shares of the electric vehicle producer’s stock after acquiring an additional 20,248 shares during the period. Tesla comprises 1.8% of Xponance Inc.’s holdings, making the stock its 8th biggest position. Xponance Inc.’s holdings in Tesla were worth $186,190,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC lifted its holdings in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank lifted its stake in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC boosted its holdings in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Tesla in the 1st quarter valued at about $27,000. Finally, True Wealth Design LLC raised its holdings in Tesla by 79.5% in the 4th 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 period. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 4.7%

Shares of Tesla stock opened at $309.87 on Friday. The firm’s 50 day moving average is $322.07 and its 200 day moving average is $322.26. The firm has a market capitalization of $998.08 billion, a PE ratio of 170.26, a price-to-earnings-growth ratio of 8.80 and a beta of 2.39. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the company posted $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director directly owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 835,509 shares of company stock worth $279,420,485. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSLA. The Goldman Sachs Group boosted their price objective on Tesla from $285.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, July 3rd. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a “buy” rating in a report on Thursday, April 24th. Wedbush reiterated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Tuesday. Barclays reduced their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $301.13.

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.