Marco Investment Management LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Marco Investment Management LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 49.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,640 shares of the electric vehicle producer’s stock after buying an additional 5,821 shares during the period. Marco Investment Management LLC’s holdings in Tesla were worth $4,383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Holderness Investments Co. grew its stake in Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after purchasing an additional 42 shares during the period. SCS Capital Management LLC grew its stake in Tesla by 0.3% in the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after purchasing an additional 45 shares during the period. Daymark Wealth Partners LLC grew its stake in Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after purchasing an additional 45 shares during the period. ML & R Wealth Management LLC grew its stake in Tesla by 2.6% in the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock worth $455,000 after purchasing an additional 46 shares during the period. Finally, LCM Capital Management Inc grew its stake in Tesla by 3.5% in the third quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock worth $344,000 after purchasing an additional 46 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. 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 Tesla 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 completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 in the last quarter. 25.10% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $1.89 during trading on Friday, hitting $168.29. The company had a trading volume of 109,309,500 shares, compared to its average volume of 100,050,800. The firm has a market capitalization of $536.71 billion, a P/E ratio of 42.93, a price-to-earnings-growth ratio of 4.45 and a beta of 2.39. The stock has a 50 day simple moving average of $175.04 and a 200 day simple moving average of $207.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.72. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. As a group, analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Truist Financial reduced their price target on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday. Royal Bank of Canada cut their target price on Tesla from $294.00 to $293.00 and set an “outperform” rating on the stock in a research note on Wednesday. Jefferies Financial Group cut their target price on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. The Goldman Sachs Group cut their target price on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Finally, Guggenheim reissued a “sell” rating and issued a $122.00 target price on shares of Tesla in a research note on Tuesday, April 23rd. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $186.70.

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.