Marco Investment Management LLC Has $6.84 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Marco Investment Management LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,935 shares of the electric vehicle producer’s stock after selling 1,149 shares during the period. Marco Investment Management LLC’s holdings in Tesla were worth $6,839,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Transcendent Capital Group LLC acquired a new position in Tesla in the third quarter valued at approximately $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the fourth quarter valued at approximately $46,000. PayPay Securities Corp lifted its holdings in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares during the period. Peterson Financial Group Inc. acquired a new position in Tesla in the third quarter valued at approximately $35,000. Finally, Finley Financial LLC acquired a new position in Tesla in the fourth quarter valued at approximately $64,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 422,452 shares of company stock worth $153,659,530 over the last quarter. 20.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TSLA shares. Jefferies Financial Group upped their target price on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Morgan Stanley reaffirmed a “top pick” rating and issued a $430.00 target price on shares of Tesla in a research note on Monday. Robert W. Baird lowered their target price on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Barclays upped their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Nine investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $313.15.

Tesla Stock Performance

Shares of TSLA stock opened at $263.45 on Friday. The stock has a market cap of $847.39 billion, a P/E ratio of 129.14, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a fifty day moving average price of $371.15 and a two-hundred day moving average price of $317.75. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current 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.