Tesla, Inc. (NASDAQ:TSLA) Stake Boosted by QCM Cayman Ltd.

QCM Cayman Ltd. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 19.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,635 shares of the electric vehicle producer’s stock after purchasing an additional 269 shares during the quarter. Tesla makes up 21.9% of QCM Cayman Ltd.’s investment portfolio, making the stock its largest holding. QCM Cayman Ltd.’s holdings in Tesla were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Wedge Capital Management L L P NC grew its stake in Tesla by 2.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,078 shares of the electric vehicle producer’s stock valued at $770,000 after acquiring an additional 66 shares in the last quarter. Naples Global Advisors LLC grew its stake in shares of Tesla by 2.8% in the 3rd quarter. Naples Global Advisors LLC now owns 2,603 shares of the electric vehicle producer’s stock valued at $651,000 after buying an additional 70 shares in the last quarter. Legacy Trust grew its stake in shares of Tesla by 7.3% in the 3rd quarter. Legacy Trust now owns 971 shares of the electric vehicle producer’s stock valued at $243,000 after buying an additional 66 shares in the last quarter. Traynor Capital Management Inc. grew its stake in shares of Tesla by 8.4% in the 3rd quarter. Traynor Capital Management Inc. now owns 56,805 shares of the electric vehicle producer’s stock valued at $14,214,000 after buying an additional 4,404 shares in the last quarter. Finally, Essex LLC grew its stake in shares of Tesla by 199.0% in the 3rd quarter. Essex LLC now owns 2,479 shares of the electric vehicle producer’s stock valued at $620,000 after buying an additional 1,650 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $205.00 price target on shares of Tesla in a research note on Monday. Jefferies Financial Group reduced their target price on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. UBS Group reduced their target price on Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday, March 14th. Guggenheim restated a “sell” rating and issued a $122.00 target price on shares of Tesla in a report on Tuesday. Finally, Morgan Stanley cut their price target on Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $194.33.

Tesla Price Performance

NASDAQ:TSLA traded up $2.63 during trading hours on Tuesday, reaching $144.68. The company had a trading volume of 116,590,526 shares, compared to its average volume of 101,872,688. The stock has a 50-day moving average of $177.59 and a two-hundred day moving average of $210.05. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The firm has a market capitalization of $460.78 billion, a PE ratio of 33.81, a PEG ratio of 3.89 and a beta of 2.40. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same quarter in the previous year, the company posted $1.07 EPS. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts forecast that Tesla, Inc. will post 1.97 earnings per share for the current year.

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.