Occudo Quantitative Strategies LP Buys 3,010 Shares of Tesla, Inc. (NASDAQ:TSLA)

Occudo Quantitative Strategies LP grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 90.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,354 shares of the electric vehicle producer’s stock after purchasing an additional 3,010 shares during the period. Occudo Quantitative Strategies LP’s holdings in Tesla were worth $2,566,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in Tesla during the 4th quarter worth approximately $56,600,000. Stephens Consulting LLC grew its holdings in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after acquiring an additional 891 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. grew its holdings in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after acquiring an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. bought a new position in shares of Tesla in the fourth quarter valued at approximately $8,158,000. Finally, Ameritas Advisory Services LLC grew its holdings in shares of Tesla by 104.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock valued at $23,242,000 after acquiring an additional 29,458 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TSLA shares. Bank of America reduced their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Roth Mkm dropped their price objective on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Cfra Research downgraded Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Finally, Guggenheim reiterated a “sell” rating and issued a $170.00 price objective on shares of Tesla in a research note on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $287.46.

Tesla Trading Up 6.7%

Tesla stock opened at $318.38 on Tuesday. The stock has a market cap of $1.03 trillion, a P/E ratio of 156.07, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The firm’s fifty day moving average price is $259.44 and its 200-day moving average price is $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 earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the prior year, the company earned $0.45 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $25,466,850. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the transaction, the chief financial officer now directly owns 23,084 shares in the company, valued at approximately $6,833,325.68. This represents a 20.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,623 shares of company stock valued at $114,400,501 over the last 90 days. 20.70% of the stock is owned by insiders.

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.