Fifth Lane Capital LP Grows Holdings in Tesla, Inc. $TSLA

Fifth Lane Capital LP grew its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 160.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,600 shares of the electric vehicle producer’s stock after purchasing an additional 1,600 shares during the period. Tesla comprises approximately 0.9% of Fifth Lane Capital LP’s holdings, making the stock its 22nd largest holding. Fifth Lane Capital LP’s holdings in Tesla were worth $1,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Norges Bank purchased a new stake in Tesla in the fourth quarter worth $17,128,100,000. Cardano Risk Management B.V. increased its stake in shares of Tesla by 882.8% during the fourth quarter. Cardano Risk Management B.V. now owns 8,202,060 shares of the electric vehicle producer’s stock valued at $3,688,630,000 after buying an additional 7,367,507 shares during the period. Vanguard Group Inc. increased its stake in shares of Tesla by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after buying an additional 6,538,720 shares during the period. Holocene Advisors LP increased its stake in shares of Tesla by 132.2% during the third quarter. Holocene Advisors LP now owns 6,157,000 shares of the electric vehicle producer’s stock valued at $2,738,141,000 after buying an additional 3,505,000 shares during the period. Finally, Capital World Investors increased its stake in shares of Tesla by 5.8% during the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock valued at $19,583,547,000 after buying an additional 2,403,019 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the transaction, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief financial officer directly owned 18,106 shares of the company’s stock, valued at $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 57,824 shares of company stock valued at $21,657,588 over the last three months. 19.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Bank of America initiated coverage on Tesla in a research note on Wednesday, March 4th. They set a “buy” rating and a $460.00 price target on the stock. Canaccord Genuity Group raised their price target on Tesla from $420.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. BNP Paribas Exane lowered Tesla from a “hold” rating to an “underperform” rating in a research note on Friday, June 5th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, April 23rd. Finally, Sanford C. Bernstein upgraded Tesla from an “underperform” rating to an “outperform” rating in a research note on Friday, June 5th. Twenty-two research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $404.37.

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Tesla Stock Performance

Tesla stock opened at $406.43 on Monday. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 52 week low of $288.77 and a 52 week high of $498.83. The company has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 372.87, a price-to-earnings-growth ratio of 16.25 and a beta of 1.80. The stock has a 50-day moving average price of $398.35 and a 200 day moving average price of $416.00.

Tesla (NASDAQ:TSLAGet Free Report) last released its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The firm had revenue of $22.39 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue was up 15.8% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 1.19 EPS for the current year.

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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