Legato Capital Management LLC Buys 4,400 Shares of Tesla, Inc. (NASDAQ:TSLA)

Legato Capital Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 40.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,300 shares of the electric vehicle producer's stock after purchasing an additional 4,400 shares during the quarter. Legato Capital Management LLC's holdings in Tesla were worth $3,965,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC raised its stake in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the last quarter. Navigoe LLC purchased a new position in Tesla during the fourth quarter valued at $37,000. CoreFirst Bank & Trust purchased a new position in Tesla during the fourth quarter valued at $38,000. Cherry Tree Wealth Management LLC raised its stake in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the last quarter. Finally, First PREMIER Bank raised its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSLA. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Piper Sandler restated an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Truist Financial set a $280.00 price target on Tesla in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $302.75.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 in the last 90 days. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Tesla stock traded up $10.76 during midday trading on Friday, reaching $316.06. 147,437,834 shares of the stock traded hands, compared to its average volume of 90,285,424. The stock's fifty day moving average is $324.70 and its 200-day moving average is $314.65. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The stock has a market cap of $1.02 trillion, a P/E ratio of 182.69, a PEG ratio of 11.59 and a beta of 2.39. The company has a quick ratio of 1.54, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

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

Tesla 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.