Sage Capital Advisors llc Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Sage Capital Advisors llc grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 17.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,026 shares of the electric vehicle producer’s stock after buying an additional 155 shares during the period. Sage Capital Advisors llc’s holdings in Tesla were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in shares of Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC boosted its stake in shares of Tesla by 40.1% during the 4th 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 during the period. Strategic Financial Concepts LLC boosted its stake in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Finally, Northern Trust Corp boosted its stake 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 worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 0.4%

NASDAQ TSLA opened at $358.43 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.15 trillion, a PE ratio of 175.70, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a 50 day moving average price of $285.70 and a 200 day moving average price of $333.80. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 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 firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the firm earned $0.45 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director now owns 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the transaction, the chief financial officer now owns 23,084 shares in the company, valued at $6,833,325.68. The trade was a 20.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 984,783 shares of company stock worth $320,019,942. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of recent analyst reports. TD Cowen raised shares of 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. Piper Sandler set a $400.00 price objective on shares of Tesla in a report on Tuesday, May 6th. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Finally, Glj Research reiterated a “sell” rating and set a $19.05 price objective (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $293.97.

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.