LCM Capital Management Inc Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

LCM Capital Management Inc lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,373 shares of the electric vehicle producer’s stock after buying an additional 124 shares during the period. LCM Capital Management Inc’s holdings in Tesla were worth $555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hengehold Capital Management LLC raised its position in Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI increased its stake in shares of Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after buying an additional 24 shares during the period. Acropolis Investment Management LLC lifted its stake in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after acquiring an additional 25 shares during the period. Mount Vernon Associates Inc. MD increased its position in Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after purchasing an additional 25 shares during the period. Finally, Prospect Financial Services LLC raised its holdings in Tesla by 0.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock worth $3,029,000 after purchasing an additional 26 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total value of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 560,776 shares of company stock valued at $203,744,862 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Down 3.4 %

Tesla stock opened at $361.62 on Monday. 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 stock has a 50-day simple moving average of $408.27 and a 200 day simple moving average of $303.93. The stock has a market capitalization of $1.16 trillion, a P/E ratio of 177.27, a PEG ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a 52 week low of $138.80 and a 52 week 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 for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Analysts expect that Tesla, Inc. will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TSLA shares. Morgan Stanley boosted their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Piper Sandler increased their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, Wedbush boosted their target price on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $322.29.

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.