Los Angeles Capital Management LLC Purchases 165,156 Shares of Tesla, Inc. (NASDAQ:TSLA)

Los Angeles Capital Management LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,239,581 shares of the electric vehicle producer's stock after buying an additional 165,156 shares during the quarter. Tesla accounts for approximately 1.4% of Los Angeles Capital Management LLC's investment portfolio, making the stock its 12th biggest holding. Los Angeles Capital Management LLC's holdings in Tesla were worth $321,250,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC lifted its stake in shares of Tesla by 86.3% during the 1st 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 in the last quarter. First PREMIER Bank lifted its holdings in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla during the 1st quarter valued at $27,000. Finally, True Wealth Design LLC increased its stake in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were 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 directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director owned 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock worth $279,420,485 in the last three months. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $329.65 on Friday. The firm's fifty day simple moving average is $326.27 and its 200-day simple moving average is $316.70. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 181.13, a PEG ratio of 12.56 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. UBS Group set a $290.00 target price on shares of Tesla in a report on Monday, June 30th. Cantor Fitzgerald reduced their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus target price of $300.19.

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.

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