1,488,554 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Leigh Baldwin & CO. LLC

Leigh Baldwin & CO. LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,488,554 shares of the electric vehicle producer’s stock, valued at approximately $601,138,000. Tesla accounts for about 3.2% of Leigh Baldwin & CO. LLC’s investment portfolio, making the stock its 10th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Logan Capital Management Inc. grew its holdings in Tesla by 50.8% during the 4th quarter. Logan Capital Management Inc. now owns 395 shares of the electric vehicle producer’s stock valued at $160,000 after buying an additional 133 shares in the last quarter. LRI Investments LLC lifted its stake in Tesla by 26.4% in the 4th quarter. LRI Investments LLC now owns 1,670 shares of the electric vehicle producer’s stock worth $675,000 after purchasing an additional 349 shares in the last quarter. Laird Norton Wetherby Trust Company LLC bought a new position in shares of Tesla in the fourth quarter worth $5,058,000. LifePlan Investment Advisors Inc. boosted its stake in Tesla by 13.7% during the fourth quarter. LifePlan Investment Advisors Inc. now owns 874 shares of the electric vehicle producer’s stock valued at $353,000 after buying an additional 105 shares during the period. Finally, Lionshead Wealth Management LLC bought a new position in Tesla in the 4th quarter worth about $1,662,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 4.6%

NASDAQ:TSLA opened at $298.05 on Monday. The stock has a fifty day moving average price of $258.65 and a 200 day moving average price of $327.89. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $960.01 billion, a PE ratio of 146.10, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last issued 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 return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period last year, the company posted $0.45 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following 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. In the last quarter, insiders sold 408,623 shares of company stock worth $114,400,501. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TSLA has been the subject of several analyst reports. Roth Mkm cut their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Guggenheim reissued a “sell” rating and set a $170.00 price target on shares of Tesla in a research report on Thursday, April 24th. Morgan Stanley reiterated a “buy” rating and issued a $430.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. BNP Paribas set a $137.00 price target on Tesla and gave the stock an “underperform” rating in a research note on Wednesday, April 16th. Finally, Bank of America decreased their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $287.46.

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.