Sugar Maple Asset Management LLC Invests $110,000 in Tesla, Inc. (NASDAQ:TSLA)

Sugar Maple Asset Management LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 272 shares of the electric vehicle producer’s stock, valued at approximately $110,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Geode Capital Management LLC grew its position in shares of Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares in the last quarter. FMR LLC boosted its stake in Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after acquiring an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after purchasing an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $415.11 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $393.38 and its 200 day moving average price is $291.27. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a market cap of $1.33 trillion, a P/E ratio of 113.73, a PEG ratio of 8.60 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $2,222,802. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 617,886 shares of company stock valued at $212,451,751. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TSLA shares. Truist Financial reissued a “hold” rating and issued a $360.00 price objective on shares of Tesla in a report on Thursday, January 2nd. Mizuho raised Tesla from a “neutral” rating to an “outperform” rating and upped their price target for the company from $230.00 to $515.00 in a research report on Tuesday, December 17th. Evercore ISI lifted their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Royal Bank of Canada increased their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, Morgan Stanley boosted their price objective on shares of Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $309.48.

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.