Delta Investment Management LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Delta Investment Management LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,186 shares of the electric vehicle producer’s stock after buying an additional 1,111 shares during the quarter. Delta Investment Management LLC’s holdings in Tesla were worth $2,034,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wyrmwood Management LLC purchased a new stake in Tesla in the fourth quarter valued at approximately $25,000. Lam Group Inc. purchased a new stake in Tesla in the fourth quarter valued at approximately $25,000. Mendota Financial Group LLC raised its position in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the period. Ogorek Anthony Joseph NY ADV raised its position in Tesla by 94.5% in the third quarter. Ogorek Anthony Joseph NY ADV now owns 142 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 69 shares during the period. Finally, Kathleen S. Wright Associates Inc. raised its position in Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $168.29 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.25. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a market capitalization of $536.71 billion, a PE ratio of 42.93, a P/E/G ratio of 4.45 and a beta of 2.39. The company has a fifty day moving average of $175.04 and a two-hundred day moving average of $207.61.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same quarter in the prior year, the company earned $1.07 EPS. The business’s revenue was up 3.5% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 1.97 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TSLA shares. TD Cowen cut their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research report on Thursday, January 25th. Morgan Stanley cut their price objective on Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Thursday. HSBC cut their price objective on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Tesla in a research report on Monday, April 22nd. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $186.70.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction dated 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 approximately $2,920,950. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,098 shares of company stock valued at $38,802,534. Insiders own 25.10% of the company’s stock.

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.