Marsico Capital Management LLC Buys New Position in Tesla, Inc. (NASDAQ:TSLA)

Marsico Capital Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 337,095 shares of the electric vehicle producer’s stock, valued at approximately $66,704,000. Tesla accounts for about 2.0% of Marsico Capital Management LLC’s investment portfolio, making the stock its 18th largest holding.

Several other hedge funds have also made changes to their positions in TSLA. DDFG Inc boosted its position in shares of Tesla by 7.1% during the 4th quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock worth $265,000 after acquiring an additional 71 shares in the last quarter. Vantage Financial Partners LLC lifted its stake in Tesla by 6.4% during the fourth quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock worth $1,432,000 after purchasing an additional 346 shares during the last quarter. Gilbert & Cook Inc. boosted its holdings in Tesla by 8.7% in the fourth quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after purchasing an additional 1,086 shares in the last quarter. 9258 Wealth Management LLC increased its stake in Tesla by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock valued at $1,532,000 after purchasing an additional 69 shares during the last quarter. Finally, Rollins Financial raised its holdings in Tesla by 10.2% during the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after purchasing an additional 11,191 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TSLA shares. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research report on Monday, June 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Monday. Royal Bank of Canada cut their target price on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. William Blair initiated coverage on Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and raised their target price for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $209.60.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Tesla Trading Up 0.5 %

Tesla stock opened at $227.87 on Wednesday. The stock has a market cap of $726.72 billion, a PE ratio of 58.13, a P/E/G ratio of 6.08 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $222.16 and a 200 day moving average price of $194.93. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.93.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the business posted $0.78 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.