GAMMA Investing LLC Increases Position in Tesla, Inc. (NASDAQ:TSLA)

GAMMA Investing LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 27,378.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,812,316 shares of the electric vehicle producer's stock after buying an additional 9,776,607 shares during the period. GAMMA Investing LLC owned 0.31% of Tesla worth $2,542,960,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wealth Group Ltd. bought a new stake in shares of Tesla during the 4th quarter valued at $275,000. Comprehensive Financial Planning Inc. PA purchased a new position in Tesla during the 4th quarter valued at about $1,361,000. Tallon Kerry Patrick purchased a new stake in Tesla in the fourth quarter worth about $374,000. Eagle Capital Management LLC bought a new position in shares of Tesla during the fourth quarter valued at approximately $331,000. Finally, Brighton Jones LLC lifted its holdings in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $9.34 during midday trading on Friday, reaching $349.09. 122,996,137 shares of the stock traded hands, compared to its average volume of 98,033,976. The company's 50 day moving average is $286.92 and its 200 day moving average is $333.95. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $1.12 trillion, a PE ratio of 171.12, a P/E/G ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the business earned $0.45 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 984,783 shares of company stock worth $320,019,942. Corporate insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Glj Research restated a "sell" rating and issued a $19.05 price target (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft reduced their price target on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Piper Sandler set a $400.00 price target on shares of Tesla in a research note on Tuesday, May 6th. Robert W. Baird reduced their price objective on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $500.00 target price (up from $350.00) on shares of Tesla in a report on Friday, May 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of "Hold" and an average target price of $293.97.

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.