GAMMA Investing LLC Purchases New Stake in Tesla, Inc. (NASDAQ:TSLA)

GAMMA Investing LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,142 shares of the electric vehicle producer’s stock, valued at approximately $2,520,000. Tesla makes up approximately 0.7% of GAMMA Investing LLC’s portfolio, making the stock its 22nd largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC raised its stake in shares of Tesla by 1.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock worth $1,089,000 after purchasing an additional 42 shares in the last quarter. Holderness Investments Co. raised its stake in shares of Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after acquiring an additional 42 shares in the last quarter. Wagner Wealth Management LLC raised its stake in shares of Tesla by 1.3% in the 3rd quarter. Wagner Wealth Management LLC now owns 3,384 shares of the electric vehicle producer’s stock valued at $847,000 after acquiring an additional 44 shares in the last quarter. SCS Capital Management LLC raised its stake in shares of Tesla by 0.3% in the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after acquiring an additional 45 shares in the last quarter. Finally, Daymark Wealth Partners LLC raised its stake in shares of Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after acquiring an additional 45 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. Canaccord Genuity Group cut their price objective on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Sanford C. Bernstein cut their price objective on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft downgraded Tesla from a “buy” rating to a “hold” rating and cut their price objective for the company from $189.00 to $123.00 in a research note on Thursday, April 18th. Redburn Atlantic initiated coverage on Tesla in a research report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price target on the stock. Finally, Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $245.00 to $195.00 in a research report on Tuesday, February 6th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $194.33.

Insiders Place Their Bets

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 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 of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction 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 owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is currently owned by corporate insiders.

Tesla Price Performance

TSLA stock traded up $2.63 during trading on Tuesday, hitting $144.68. The company had a trading volume of 119,642,343 shares, compared to its average volume of 101,872,688. The company has a fifty day moving average price of $177.59 and a two-hundred day moving average price of $210.05. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The company has a market cap of $460.78 billion, a P/E ratio of 33.81, a P/E/G ratio of 3.89 and a beta of 2.40. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.

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 analysts’ consensus estimates of $0.74 by ($0.03). The business 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%. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. Equities research analysts expect that Tesla, Inc. will post 1.97 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.