Seven Grand Managers LLC Takes Position in Tesla, Inc. $TSLA

Seven Grand Managers LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 50,000 shares of the electric vehicle producer’s stock, valued at approximately $22,486,000. Tesla makes up approximately 1.7% of Seven Grand Managers LLC’s investment portfolio, making the stock its 18th largest holding.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Tesla by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after purchasing an additional 6,538,720 shares in the last quarter. State Street Corp boosted its stake in shares of Tesla by 0.3% in the 3rd quarter. State Street Corp now owns 113,762,849 shares of the electric vehicle producer’s stock valued at $50,592,614,000 after purchasing an additional 344,162 shares in the last quarter. Geode Capital Management LLC raised its holdings in Tesla by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock valued at $29,426,070,000 after buying an additional 375,946 shares during the last quarter. Capital World Investors raised its holdings in Tesla by 5.8% in the 3rd quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock valued at $19,583,547,000 after buying an additional 2,403,019 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Tesla by 5.5% in the 4th quarter. Legal & General Group Plc now owns 20,181,227 shares of the electric vehicle producer’s stock valued at $9,075,901,000 after buying an additional 1,043,213 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TSLA shares. China Renaissance dropped their price objective on shares of Tesla from $382.00 to $372.00 and set a “hold” rating for the company in a report on Monday, April 27th. Zacks Research upgraded shares of Tesla from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Stifel Nicolaus set a $508.00 price objective on shares of Tesla in a report on Thursday, January 29th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. reiterated a “sell” rating on shares of Tesla in a report on Wednesday, April 22nd. Nineteen research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $395.20.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief financial officer owned 18,106 shares in the company, valued at approximately $8,147,700. This trade represents a 14.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the transaction, the director owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 57,482 shares of company stock valued at $21,508,331. Company insiders own 19.90% of the company’s stock.

Tesla Stock Up 1.6%

Tesla stock opened at $440.36 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $273.21 and a 52-week high of $498.83. The firm has a 50 day moving average price of $390.12 and a two-hundred day moving average price of $416.18. The firm has a market cap of $1.65 trillion, a price-to-earnings ratio of 404.00, a PEG ratio of 17.12 and a beta of 1.79.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The firm had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same quarter last year, the business earned $0.27 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 1.2 EPS for the current year.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s European sales momentum appears to be improving, with multiple reports citing April registrations up sharply year over year and suggesting the EV business is regaining traction after a long slump. Tesla Logs Strong Growth in European Monthly Sales
• Positive Sentiment: Wall Street is also focusing on Tesla’s robotaxi and Optimus opportunities, with coverage saying a new patent could protect future revenue drivers and that the stock is approaching a technical breakout setup. Tesla Patent Could Protect Two Biggest Future Revenue Drivers: Here’s Why ‘Lens Cleaning System’ May Matter
• Positive Sentiment: Renewed speculation around a possible SpaceX-Tesla tie-up is adding excitement, with reports and commentary suggesting the rumored SpaceX IPO could become a major long-term catalyst for Tesla shareholders. SpaceX-Tesla merger chatter reignites as Musk pushes rocket company towards Nasdaq

Tesla Company Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.