Los Angeles Capital Management LLC Sells 278,112 Shares of Tesla, Inc. (NASDAQ:TSLA)

Los Angeles Capital Management LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,055,456 shares of the electric vehicle producer’s stock after selling 278,112 shares during the quarter. Tesla comprises approximately 1.0% of Los Angeles Capital Management LLC’s holdings, making the stock its 17th largest holding. Los Angeles Capital Management LLC’s holdings in Tesla were worth $262,260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wyrmwood Management LLC purchased a new stake in Tesla during the 4th quarter valued at $25,000. Lam Group Inc. purchased a new stake in Tesla in the fourth quarter worth $25,000. Mendota Financial Group LLC increased its stake in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the period. Kathleen S. Wright Associates Inc. increased its stake in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after purchasing an additional 100 shares during the period. Finally, Cordant Inc. purchased a new stake in Tesla in the third quarter worth $53,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 0.2 %

NASDAQ TSLA traded up $0.36 on Thursday, reaching $180.35. 67,773,421 shares of the company were exchanged, compared to its average volume of 104,759,531. The business’s fifty day moving average price is $174.41 and its 200 day moving average price is $206.11. The stock has a market capitalization of $575.17 billion, a P/E ratio of 45.57, a price-to-earnings-growth ratio of 4.98 and a beta of 2.40. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.

Analysts Set New Price Targets

A number of research firms have weighed in on TSLA. KGI Securities reiterated a “neutral” rating and issued a $213.00 target price (down previously from $309.00) on shares of Tesla in a research note on Thursday, January 25th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Wednesday, April 24th. Canaccord Genuity Group cut their price target on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. China Renaissance initiated coverage on Tesla in a research note on Monday, February 26th. They set a “hold” rating on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $185.90.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 in the last quarter. Insiders own 25.10% of the company’s stock.

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.