Gotham Asset Management LLC Buys 29,398 Shares of Tesla, Inc. $TSLA

Gotham Asset Management LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 43.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,717 shares of the electric vehicle producer’s stock after acquiring an additional 29,398 shares during the period. Gotham Asset Management LLC’s holdings in Tesla were worth $25,324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Means Investment CO. Inc. raised its stake in Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after buying an additional 6,323 shares in the last quarter. Focus Financial Network Inc. raised its stake in Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after buying an additional 670 shares in the last quarter. Zuckerman Investment Group LLC raised its stake in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after buying an additional 826 shares in the last quarter. Keystone Global Partners LLC bought a new position in Tesla in the first quarter worth approximately $594,000. Finally, IFM Investors Pty Ltd raised its stake in Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after buying an additional 46,087 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the company’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,564 shares of company stock valued at $49,396,070 over the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of TSLA opened at $338.53 on Friday. The firm has a market capitalization of $1.09 trillion, a PE ratio of 195.68, a price-to-earnings-growth ratio of 11.66 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1-year low of $210.51 and a 1-year high of $488.54. The company’s fifty day moving average price is $323.45 and its 200-day moving average price is $302.67.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Benchmark reissued a “buy” rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a research note on Sunday, August 17th. Mizuho cut their price target on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a report on Tuesday, July 8th. Finally, Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $303.31.

About Tesla

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.