GAMMA Investing LLC Acquires New Shares in Tesla, Inc. (NASDAQ:TSLA)

GAMMA Investing LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 10,142 shares of the electric vehicle producer’s stock, valued at approximately $2,520,000. Tesla comprises approximately 0.7% of GAMMA Investing LLC’s investment portfolio, making the stock its 22nd largest holding.

Several other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. raised its position in Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after purchasing an additional 3,453,078 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Tesla by 34.0% in the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after acquiring an additional 2,293,344 shares in the last quarter. Morgan Stanley raised its position in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after acquiring an additional 909,170 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. TD Cowen lowered their price objective on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft lowered Tesla from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $189.00 to $123.00 in a research report on Thursday, April 18th. Canaccord Genuity Group lowered their price objective on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Finally, The Goldman Sachs Group lowered their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $194.33.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at $6,376,229.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were 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 of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. Insiders own 20.90% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $2.63 during midday trading on Tuesday, reaching $144.68. The company’s stock had a trading volume of 119,642,343 shares, compared to its average volume of 101,872,688. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm has a 50 day moving average price of $177.59 and a 200-day moving average price of $210.05. The stock has a market capitalization of $460.78 billion, a P/E ratio of 33.81, a PEG ratio of 3.89 and a beta of 2.40.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the previous year, the company posted $1.07 EPS. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current 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.