Algert Global LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Algert Global LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 128.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,856 shares of the electric vehicle producer’s stock after buying an additional 15,649 shares during the quarter. Algert Global LLC’s holdings in Tesla were worth $11,249,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in TSLA. Alpha Family Trust raised its holdings in shares of Tesla by 5.7% in the 4th quarter. Alpha Family Trust now owns 13,725 shares of the electric vehicle producer’s stock worth $5,543,000 after purchasing an additional 745 shares during the period. Alteri Wealth LLC purchased a new stake in Tesla in the fourth quarter worth $3,011,000. Aptus Capital Advisors LLC raised its stake in shares of Tesla by 25.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 158,841 shares of the electric vehicle producer’s stock valued at $64,146,000 after buying an additional 32,155 shares during the period. Apex Wealth Management LLC purchased a new position in shares of Tesla during the 4th quarter valued at $5,760,000. Finally, Aspire Growth Partners LLC bought a new position in shares of Tesla during the 4th quarter worth $286,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 486,618 shares of company stock valued at $155,887,459 over the last three months. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TSLA. HSBC lowered their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Piper Sandler restated an “overweight” rating on shares of Tesla in a research note on Tuesday, April 22nd. Mizuho cut their price objective on shares of Tesla from $375.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley reissued a “buy” rating and set a $430.00 target price on shares of Tesla in a report on Tuesday, April 22nd. Finally, Guggenheim reaffirmed a “sell” rating and issued a $170.00 price target on shares of Tesla in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $287.46.

Tesla Stock Performance

NASDAQ TSLA opened at $287.21 on Friday. The company has a 50-day simple moving average of $258.82 and a two-hundred day simple moving average of $325.18. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The firm has a market cap of $925.09 billion, a price-to-earnings ratio of 140.79, a PEG ratio of 5.86 and a beta of 2.58. 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 posted its quarterly 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.