Marketfield Asset Management LLC Purchases New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Marketfield Asset Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,599 shares of the electric vehicle producer’s stock, valued at approximately $3,628,000. Tesla comprises 2.9% of Marketfield Asset Management LLC’s investment portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wyrmwood Management LLC purchased a new position in Tesla in the fourth quarter valued at about $25,000. Lam Group Inc. bought a new position in Tesla during the 4th quarter worth approximately $25,000. Mendota Financial Group LLC lifted its holdings in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in Tesla during the 4th quarter worth approximately $37,000. Finally, Kathleen S. Wright Associates Inc. lifted its holdings in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,855 shares of company stock worth $19,285,643. 20.90% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $6.63 during mid-day trading on Wednesday, reaching $177.29. The company had a trading volume of 90,219,925 shares, compared to its average volume of 96,746,844. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a market cap of $565.41 billion, a PE ratio of 44.94, a P/E/G ratio of 4.31 and a beta of 2.32. The company has a 50-day moving average price of $172.23 and a two-hundred day moving average price of $196.32. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. On average, equities analysts anticipate that Tesla, Inc. will post 1.87 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Citigroup reaffirmed a “neutral” rating on shares of Tesla in a report on Wednesday. The Goldman Sachs Group reduced their target price on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Piper Sandler reissued an “overweight” rating and issued a $205.00 price target on shares of Tesla in a report on Monday, April 22nd. China Renaissance assumed coverage on Tesla in a report on Monday, February 26th. They issued a “hold” rating on the stock. Finally, Roth Mkm reissued a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $185.90.

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.