AQR Capital Management LLC Has $285.01 Million Stake in Tesla, Inc. $TSLA

Key Points

• AQR Capital Management LLC has increased its stake in Tesla, Inc. by 3.9%, owning a total of 1,145,865 shares valued at approximately $285 million.
• Several other institutional investors, including Eagle Capital Management and Brighton Jones LLC, have also adjusted their positions in Tesla shares during the recent quarter.
• Analysts have varying ratings for Tesla, with the average price target set at $303.31, highlighting a mix of buy, hold, and sell recommendations from analysts.

AQR Capital Management LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,145,865 shares of the electric vehicle producer's stock after purchasing an additional 42,999 shares during the period. AQR Capital Management LLC's holdings in Tesla were worth $285,011,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Means Investment CO. Inc. grew its position in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. grew its position in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares during the last quarter. Zuckerman Investment Group LLC lifted its holdings in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock worth $3,304,000 after acquiring an additional 826 shares during the period. Keystone Global Partners LLC bought a new position in shares of Tesla during the 1st quarter worth about $594,000. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after acquiring an additional 46,087 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated 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 approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,564 shares of company stock valued at $49,396,070. Insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $4.44 during trading on Thursday, reaching $338.53. The company had a trading volume of 60,470,316 shares, compared to its average volume of 72,309,936. Tesla, Inc. has a 52 week low of $210.51 and a 52 week high of $488.54. The stock has a market cap of $1.09 trillion, a PE ratio of 195.68, a PEG ratio of 11.66 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The business's 50 day moving average price is $323.45 and its 200-day moving average price is $302.67.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The company's revenue was down 11.8% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the subject of a number of analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Canaccord Genuity Group raised their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. Finally, Bank of America raised their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the company's stock. Based on data from MarketBeat, Tesla currently has an average rating of "Hold" and an average target price of $303.31.

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.