Logan Capital Management Inc. Buys 133 Shares of Tesla, Inc. (NASDAQ:TSLA)

Logan Capital Management Inc. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 50.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 395 shares of the electric vehicle producer’s stock after acquiring an additional 133 shares during the period. Logan Capital Management Inc.’s holdings in Tesla were worth $160,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after buying an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC raised its stake in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after buying an additional 1,655,203 shares in the last quarter. Norges Bank bought a new position in Tesla in the fourth quarter worth about $14,420,248,000. FMR LLC raised its stake in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Piper Sandler set a $400.00 target price on shares of Tesla in a research note on Tuesday, May 6th. Raymond James downgraded shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Finally, BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $287.46.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $300.00, for a total value of $1,200,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $8,085,000. The trade was a 12.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction dated 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 in the company, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 412,623 shares of company stock worth $115,600,501 in the last three months. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $334.07 on Wednesday. The company’s 50-day moving average price is $260.85 and its 200-day moving average price is $328.28. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.08 trillion, a PE ratio of 163.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the firm earned $0.45 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.