Los Angeles Capital Management LLC Has $433.90 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Los Angeles Capital Management LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,074,425 shares of the electric vehicle producer’s stock after purchasing an additional 106,985 shares during the quarter. Tesla comprises approximately 1.8% of Los Angeles Capital Management LLC’s holdings, making the stock its 10th largest position. Los Angeles Capital Management LLC’s holdings in Tesla were worth $433,896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter valued at approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla during the fourth quarter valued at $46,000. PayPay Securities Corp boosted its position in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Tesla in the 3rd quarter worth about $35,000. Finally, Finley Financial LLC purchased a new position in Tesla in the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $281.95 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a market cap of $906.90 billion, a price-to-earnings ratio of 138.21, a PEG ratio of 5.86 and a beta of 2.34. The firm’s fifty day moving average is $387.91 and its 200 day moving average is $315.28. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Mizuho restated an “outperform” rating and issued a $515.00 target price on shares of Tesla in a report on Thursday, January 30th. Wedbush set a $328.50 target price on shares of Tesla in a research note on Wednesday, February 12th. Jefferies Financial Group raised their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Finally, Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Ten equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $319.57.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is currently owned by company insiders.

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.