ZEGA Investments LLC Invests $4.30 Million in Tesla, Inc. (NASDAQ:TSLA)

ZEGA Investments LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,582 shares of the electric vehicle producer’s stock, valued at approximately $4,302,000. Tesla comprises 1.1% of ZEGA Investments LLC’s investment portfolio, making the stock its 17th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB grew its position in Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the period. United Bank purchased a new position in shares of Tesla during the third quarter valued at $287,000. Advisors Asset Management Inc. raised its position in Tesla by 0.9% during the third quarter. Advisors Asset Management Inc. now owns 8,972 shares of the electric vehicle producer’s stock valued at $2,347,000 after buying an additional 80 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its stake in Tesla by 4.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 26,577 shares of the electric vehicle producer’s stock worth $6,953,000 after acquiring an additional 1,034 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial upped their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and upped their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Robert W. Baird decreased 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, March 6th. StockNews.com downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Finally, Bank of America reduced their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $318.93.

Tesla Price Performance

NASDAQ:TSLA opened at $248.71 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a fifty day moving average price of $335.19 and a 200 day moving average price of $319.68. The stock has a market cap of $799.98 billion, a P/E ratio of 121.92, a PEG ratio of 5.86 and a beta of 2.50.

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

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.