Xponance Inc. Purchases 12,289 Shares of Tesla, Inc. (NASDAQ:TSLA)

Xponance Inc. grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 653,588 shares of the electric vehicle producer’s stock after purchasing an additional 12,289 shares during the period. Tesla accounts for about 1.9% of Xponance Inc.’s investment portfolio, making the stock its 8th largest position. Xponance Inc.’s holdings in Tesla were worth $162,404,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TSLA. Axiom Financial Strategies LLC boosted its position in shares of Tesla by 9.8% in the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock worth $777,000 after acquiring an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Tesla by 19.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after purchasing an additional 164,789 shares during the period. MAS Advisors LLC raised its stake in shares of Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after purchasing an additional 81 shares during the period. Ergoteles LLC raised its stake in shares of Tesla by 33.4% during the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after purchasing an additional 893 shares during the period. Finally, Mackenzie Financial Corp increased its stake in shares of Tesla by 6.8% in the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after buying an additional 4,593 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Canaccord Genuity Group cut their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. The Goldman Sachs Group cut their price objective on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, April 2nd. Finally, KGI Securities reiterated a “neutral” rating and issued a $213.00 price target (down from $309.00) on shares of Tesla in a research report on Thursday, January 25th. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $194.70.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The shares were 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 of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $5.52 during midday trading on Thursday, reaching $149.93. The company’s stock had a trading volume of 94,030,793 shares, compared to its average volume of 101,755,750. Tesla, Inc. has a fifty-two week low of $148.70 and a fifty-two week high of $299.29. The company has a market capitalization of $477.50 billion, a P/E ratio of 35.25, a P/E/G ratio of 4.15 and a beta of 2.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The business’s fifty day simple moving average is $180.24 and its 200-day simple moving average is $212.64.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same quarter last year, the business posted $1.07 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 1.97 EPS 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.