M1 Capital Management LLC Makes New $863,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

M1 Capital Management LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,136 shares of the electric vehicle producer's stock, valued at approximately $863,000.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC lifted its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. lifted its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the period. GS Investments Inc. lifted its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the period. Navigoe LLC acquired a new position in Tesla during the 4th quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $350.11, for a total value of $1,050,330.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $9,435,464.50. This represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the company'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 value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,623 shares of company stock valued at $116,650,831 over the last three months. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Up 0.4%

TSLA traded up $1.53 during midday trading on Thursday, reaching $358.43. 87,801,445 shares of the company were exchanged, compared to its average volume of 97,851,204. The company has a market cap of $1.15 trillion, a price-to-earnings ratio of 175.70, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company's fifty day moving average price is $284.09 and its 200 day moving average price is $333.75. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54.

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 during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the prior year, the company earned $0.45 earnings per share. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Piper Sandler set a $400.00 price objective on Tesla in a research report on Tuesday, May 6th. Wall Street Zen lowered Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Finally, Wedbush reissued an "outperform" rating and issued a $500.00 price objective (up from $350.00) on shares of Tesla in a research report on Friday, May 23rd. Ten investment 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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.