Numerai GP LLC Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Numerai GP LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,118 shares of the electric vehicle producer’s stock, valued at approximately $2,875,000. Tesla makes up about 0.8% of Numerai GP LLC’s investment portfolio, making the stock its 15th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSLA. Norges Bank purchased a new stake in shares of Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC boosted its position in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after buying an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TSLA shares. UBS Group reduced their price objective on shares of Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Cantor Fitzgerald reduced their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley reiterated a “buy” rating and issued a $430.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, TD Cowen raised Tesla from a “hold” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Ten equities research 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $287.46.

Tesla Price Performance

Tesla stock opened at $334.07 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 163.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company’s 50 day simple moving average is $260.85 and its 200-day simple moving average is $328.28. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the firm earned $0.45 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $8,085,000. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 412,623 shares of company stock worth $115,600,501 in the last three months. 20.70% of the stock is owned by company 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.