ARK Investment Management LLC Has $944.85 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

ARK Investment Management LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 6.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,802,519 shares of the electric vehicle producer’s stock after selling 276,132 shares during the quarter. Tesla accounts for 5.6% of ARK Investment Management LLC’s portfolio, making the stock its 3rd largest position. ARK Investment Management LLC owned about 0.12% of Tesla worth $944,850,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TSLA. Contravisory Investment Management Inc. purchased a new position in shares of Tesla during the third quarter valued at approximately $25,000. Wyrmwood Management LLC purchased a new position in shares of Tesla during the fourth quarter valued at approximately $25,000. Alpha Paradigm Partners LLC purchased a new position in shares of Tesla during the third quarter valued at approximately $27,000. Halpern Financial Inc. grew its stake in Tesla by 1,111.1% in the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 100 shares during the period. Finally, Perkins Coie Trust Co grew its stake in Tesla by 72.0% in the third quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 54 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla 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 sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 198,598 shares of company stock valued at $36,952,434 over the last ninety days. Insiders own 20.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $179.83 on Thursday. The stock has a market cap of $572.72 billion, a PE ratio of 41.72, a price-to-earnings-growth ratio of 4.01 and a beta of 2.41. The business has a 50-day simple moving average of $188.49 and a 200-day simple moving average of $222.36. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 52-week low of $152.37 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 earnings per share. On average, equities analysts expect that Tesla, Inc. will post 2.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TSLA shares. UBS Group dropped their target price on Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Tesla from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 target price on shares of Tesla in a report on Wednesday. Piper Sandler lowered their price target on Tesla from $295.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 5th. Finally, Barclays lowered their price target on Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a report on Thursday, January 25th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $207.04.

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.