174,408 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Ratan Capital Management LP

Ratan Capital Management LP bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 174,408 shares of the electric vehicle producer's stock, valued at approximately $70,433,000. Tesla accounts for about 10.8% of Ratan Capital Management LP's portfolio, making the stock its 2nd biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its stake in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new stake in Tesla during the fourth quarter valued at about $14,420,248,000. FMR LLC grew its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA opened at $347.68 on Thursday. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The business's fifty day simple moving average is $262.55 and its two-hundred day simple moving average is $328.41. 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 company has a market cap of $1.12 trillion, a price-to-earnings ratio of 170.43, a P/E/G ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its 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 net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the company posted $0.45 EPS. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of several recent research reports. Royal Bank of Canada reduced their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. StockNews.com cut shares of Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler set a $400.00 price target on shares of Tesla in a research report on Tuesday, May 6th. Finally, Glj Research reissued a "sell" rating and issued a $19.05 price target (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus price target of $287.46.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at $25,466,850. This represents a 56.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $8,085,000. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 412,623 shares of company stock valued at $115,600,501. Company insiders own 20.70% of the company's stock.

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.

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