Xponance Inc. Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Xponance Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 698,190 shares of the electric vehicle producer’s stock after buying an additional 7,589 shares during the period. Tesla comprises 2.6% of Xponance Inc.’s holdings, making the stock its 7th biggest holding. Xponance Inc.’s holdings in Tesla were worth $281,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Generali Asset Management SPA SGR bought a new position in Tesla in the fourth quarter worth approximately $84,881,000. Evoke Wealth LLC lifted its holdings in shares of Tesla by 14.3% in the 4th quarter. Evoke Wealth LLC now owns 15,348 shares of the electric vehicle producer’s stock worth $6,198,000 after buying an additional 1,915 shares during the period. Horizon Investments LLC grew its position in shares of Tesla by 24.1% during the 4th quarter. Horizon Investments LLC now owns 65,409 shares of the electric vehicle producer’s stock worth $26,415,000 after buying an additional 12,710 shares in the last quarter. Carlson Capital Management raised its holdings in shares of Tesla by 1.6% in the fourth quarter. Carlson Capital Management now owns 8,526 shares of the electric vehicle producer’s stock valued at $3,443,000 after acquiring an additional 132 shares in the last quarter. Finally, Custos Family Office LLC raised its holdings in shares of Tesla by 4.1% in the fourth quarter. Custos Family Office LLC now owns 2,987 shares of the electric vehicle producer’s stock valued at $1,206,000 after acquiring an additional 117 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TSLA shares. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Benchmark started coverage on Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Monday, February 10th. Truist Financial upped their price objective on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Bank of America reduced their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $323.00.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $238.01 on Tuesday. The company has a market capitalization of $765.56 billion, a PE ratio of 116.67, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company’s fifty day moving average price is $347.85 and its 200 day moving average price is $320.53. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

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.