May Hill Capital LLC Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

May Hill Capital LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,749 shares of the electric vehicle producer’s stock, valued at approximately $706,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Horrell Capital Management Inc. boosted its holdings in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. boosted its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in shares of Tesla during the fourth quarter worth about $38,000. Delos Wealth Advisors LLC increased its stake in shares of Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after buying an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC acquired a new stake in Tesla during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 price target on shares of Tesla in a research note on Monday, March 17th. Stifel Nicolaus lowered their target price on Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company reduced their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Robert W. Baird lowered their price objective on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, Piper Sandler decreased their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $317.75.

Tesla Trading Down 1.7 %

Shares of TSLA opened at $259.16 on Tuesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market cap of $833.59 billion, a PE ratio of 127.04, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $317.98 and its 200-day moving average price is $323.21.

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, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

Tesla Company 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.