Los Angeles Capital Management LLC Acquires 461,668 Shares of Tesla, Inc. (NASDAQ:TSLA)

Los Angeles Capital Management LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 183.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 712,651 shares of the electric vehicle producer’s stock after purchasing an additional 461,668 shares during the period. Los Angeles Capital Management LLC’s holdings in Tesla were worth $141,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares during the last quarter. Norges Bank purchased a new position in shares of Tesla in the fourth quarter worth $7,844,757,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after buying an additional 135,966 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Tesla by 0.9% during the first quarter. California State Teachers Retirement System now owns 4,611,096 shares of the electric vehicle producer’s stock worth $810,585,000 after purchasing an additional 41,498 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 25.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on TSLA shares. KGI Securities reissued a “neutral” rating and set a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a report on Wednesday, July 24th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday. Finally, Wolfe Research initiated coverage on Tesla in a report on Thursday. They issued a “peer perform” rating for the company. Nine equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $204.21.

Tesla Price Performance

TSLA traded down $19.44 during trading on Friday, reaching $210.73. The company’s stock had a trading volume of 111,432,758 shares, compared to its average volume of 68,186,248. The company has a market cap of $673.21 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 5.80 and a beta of 2.29. The firm has a fifty day simple moving average of $224.47 and a two-hundred day simple moving average of $193.60. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the business posted $0.78 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current 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.