Empowered Funds LLC Has $34.85 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Empowered Funds LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 18.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 86,305 shares of the electric vehicle producer’s stock after purchasing an additional 13,742 shares during the period. Tesla comprises about 0.5% of Empowered Funds LLC’s investment portfolio, making the stock its 19th biggest holding. Empowered Funds LLC’s holdings in Tesla were worth $34,853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Wedge Capital Management L L P NC boosted its stake in Tesla by 18.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 2,489 shares of the electric vehicle producer’s stock worth $651,000 after purchasing an additional 384 shares during the period. Creative Planning boosted its stake in Tesla by 28.3% in the 3rd quarter. Creative Planning now owns 896,484 shares of the electric vehicle producer’s stock worth $221,677,000 after purchasing an additional 197,839 shares during the period. Swedbank AB boosted its stake in shares of Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the period. Petredis Investment Advisors LLC boosted its stake in shares of Tesla by 4.0% during the 3rd quarter. Petredis Investment Advisors LLC now owns 36,056 shares of the electric vehicle producer’s stock valued at $9,433,000 after buying an additional 1,380 shares during the period. Finally, First United Bank & Trust boosted its stake in shares of Tesla by 222.3% during the 3rd quarter. First United Bank & Trust now owns 1,776 shares of the electric vehicle producer’s stock valued at $465,000 after buying an additional 1,225 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $336.51 on Thursday. The firm’s 50-day moving average is $407.68 and its 200-day moving average is $306.23. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market cap of $1.08 trillion, a price-to-earnings ratio of 164.96, a PEG ratio of 6.22 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts anticipate that Tesla, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 635,776 shares of company stock worth $231,335,112. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. Canaccord Genuity Group lifted their target price on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Truist Financial lifted their target price on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Guggenheim reissued a “sell” rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, January 29th. Cantor Fitzgerald reissued a “neutral” rating and set a $365.00 target price on shares of Tesla in a research note on Wednesday, January 29th. Finally, Canaccord Genuity Group lifted their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $326.50.

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.