Maytus Capital Management LLC Takes $2.42 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Maytus Capital Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,000 shares of the electric vehicle producer’s stock, valued at approximately $2,423,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC raised its stake in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank acquired a new position in shares of Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC boosted its holdings in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $25,466,850. This represents a 56.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 408,623 shares of company stock worth $114,400,501. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TSLA. HSBC lowered their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Wells Fargo & Company lowered their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Barclays dropped their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Piper Sandler set a $400.00 target price on Tesla in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $287.46.

Tesla Price Performance

Tesla stock opened at $318.38 on Tuesday. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company has a market cap of $1.03 trillion, a P/E ratio of 156.07, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The business has a fifty day moving average of $259.44 and a two-hundred day moving average of $328.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.