Driehaus Capital Management LLC Invests $838,000 in Tesla, Inc. (NASDAQ:TSLA)

Driehaus Capital Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,074 shares of the electric vehicle producer’s stock, valued at approximately $838,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Wealth Group Ltd. bought a new position in shares of Tesla during the fourth quarter worth approximately $275,000. ST Germain D J Co. Inc. increased its stake in Tesla by 7.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,259 shares of the electric vehicle producer’s stock worth $508,000 after acquiring an additional 90 shares during the period. RMR Wealth Builders raised its holdings in Tesla by 72.0% in the 4th quarter. RMR Wealth Builders now owns 15,376 shares of the electric vehicle producer’s stock valued at $6,209,000 after acquiring an additional 6,439 shares in the last quarter. Czech National Bank lifted its position in shares of Tesla by 7.1% during the 4th quarter. Czech National Bank now owns 605,404 shares of the electric vehicle producer’s stock valued at $244,486,000 after acquiring an additional 40,134 shares during the period. Finally, Aprio Wealth Management LLC grew its holdings in shares of Tesla by 7.7% during the 4th quarter. Aprio Wealth Management LLC now owns 7,813 shares of the electric vehicle producer’s stock worth $3,155,000 after purchasing an additional 557 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was 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 directly owns 23,084 shares of the company’s stock, valued at $6,833,325.68. The trade was a 20.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,623 shares of company stock valued at $114,400,501. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TSLA. Wells Fargo & Company cut their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Roth Mkm cut their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Royal Bank of Canada decreased their price objective on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Guggenheim restated a “sell” rating and set a $170.00 target price on shares of Tesla in a research note on Thursday, April 24th. Finally, Morgan Stanley restated a “buy” rating and issued a $430.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $287.46.

Tesla Stock Up 4.6 %

Shares of Tesla stock opened at $298.05 on Friday. The stock’s 50-day moving average is $258.65 and its 200 day moving average is $327.43. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The firm has a market cap of $960.01 billion, a price-to-earnings ratio of 146.10, a PEG ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the business earned $0.45 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current 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.