Alight Capital Management LP Makes New $1.98 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

Alight Capital Management LP purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,000 shares of the electric vehicle producer’s stock, valued at approximately $1,979,000.

Other hedge funds have also made changes to their positions in the company. Clean Energy Transition LLP grew its position in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after purchasing an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after buying an additional 1,402,443 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Tesla by 12.9% during the 1st 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 in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $254.27 on Wednesday. The company has a market capitalization of $812.30 billion, a price-to-earnings ratio of 64.86, a PEG ratio of 6.80 and a beta of 2.29. The company has a 50-day moving average of $221.20 and a 200-day moving average of $197.14. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

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

Analysts Set New Price Targets

Several brokerages recently commented on TSLA. Mizuho boosted their target price on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Royal Bank of Canada reduced their price objective on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Guggenheim increased their target price on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, September 5th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $209.60.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

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.