Lazard Asset Management LLC Has $95.68 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Lazard Asset Management LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 45.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 236,938 shares of the electric vehicle producer’s stock after purchasing an additional 74,046 shares during the period. Lazard Asset Management LLC’s holdings in Tesla were worth $95,684,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TSLA. Horrell Capital Management Inc. boosted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. boosted its position in Tesla by 193.3% during the fourth 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 last quarter. Navigoe LLC acquired a new stake in Tesla during the fourth quarter valued at $37,000. CoreFirst Bank & Trust acquired a new stake in Tesla during the fourth quarter valued at $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Tesla in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TSLA shares. Guggenheim reaffirmed a “sell” rating and issued a $170.00 price target on shares of Tesla in a research report on Thursday, April 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Royal Bank of Canada reduced their price target on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Truist Financial set a $280.00 price target on Tesla in a research report on Tuesday, April 22nd. Finally, Piper Sandler set a $400.00 price objective on Tesla in a research note on Tuesday, May 6th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $287.46.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at $23,300,200. This represents a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 408,623 shares of company stock worth $114,400,501. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 6.7%

TSLA stock opened at $318.38 on Tuesday. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The firm has a market cap of $1.03 trillion, a P/E ratio of 156.07, a P/E/G ratio of 5.86 and a beta of 2.43. The business’s 50 day moving average is $259.44 and its 200-day moving average is $328.24. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.