M1 Capital Management LLC Invests $863,000 in Tesla, Inc. (NASDAQ:TSLA)

M1 Capital Management LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,136 shares of the electric vehicle producer’s stock, valued at approximately $863,000.

A number of other hedge funds have also recently made changes to their positions in TSLA. True Wealth Design LLC increased its stake in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. increased its position in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC bought a new stake in shares of Tesla in the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the 4th quarter worth approximately $38,000. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Glj Research reissued a “sell” rating and issued a $19.05 price target (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Mizuho upped their price objective on Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Royal Bank of Canada cut their target price on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Piper Sandler set a $400.00 price target on shares of Tesla in a research report on Tuesday, May 6th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $293.97.

Tesla Stock Up 6.9%

Shares of NASDAQ:TSLA opened at $362.89 on Wednesday. The firm has a market capitalization of $1.17 trillion, a PE ratio of 177.89, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The firm’s 50-day moving average is $281.93 and its two-hundred day moving average is $333.59.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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). 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 prior year, the company posted $0.45 earnings per share. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated 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 sale, the director now owns 85,000 shares in the company, valued at $25,466,850. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is currently owned by corporate 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.