Future Fund LLC Buys 111,152 Shares of Tesla, Inc. (NASDAQ:TSLA)

Posted by on Mar 16th, 2023

Future Fund LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 199.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,807 shares of the electric vehicle producer’s stock after buying an additional 111,152 shares during the period. Tesla accounts for approximately 89.0% of Future Fund LLC’s investment portfolio, making the stock its largest holding. Future Fund LLC’s holdings in Tesla were worth $44,245,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC increased its holdings in shares of Tesla by 224.1% during the third quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 65 shares during the period. Coston McIsaac & Partners increased its holdings in shares of Tesla by 200.0% during the third quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 64 shares during the period. West Oak Capital LLC acquired a new position in shares of Tesla during the third quarter valued at $27,000. Alpha Paradigm Partners LLC acquired a new position in shares of Tesla during the third quarter valued at $27,000. Finally, Norway Savings Bank increased its holdings in shares of Tesla by 200.0% during the third quarter. Norway Savings Bank now owns 105 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 70 shares during the period. 43.00% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 1.5 %

TSLA opened at $180.45 on Thursday. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $384.29. The business has a 50-day moving average of $172.56 and a 200-day moving average of $198.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.05. The company has a market capitalization of $570.96 billion, a PE ratio of 49.80, a price-to-earnings-growth ratio of 2.10 and a beta of 2.06.

Tesla (NASDAQ:TSLA – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The electric vehicle producer reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. Tesla had a return on equity of 31.71% and a net margin of 15.41%. The company had revenue of $24.32 billion during the quarter, compared to the consensus estimate of $24.26 billion. During the same period last year, the business earned $0.68 EPS. The business’s quarterly revenue was up 37.2% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 3.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on TSLA. Morgan Stanley lowered their price target on Tesla from $250.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, January 25th. Mizuho lowered their target price on Tesla from $285.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, January 5th. Guggenheim lowered Tesla from a “neutral” rating to a “sell” rating in a report on Friday, January 13th. Royal Bank of Canada lifted their target price on Tesla from $186.00 to $223.00 and gave the stock an “outperform” rating in a report on Monday, February 6th. Finally, Canaccord Genuity Group lowered their target price on Tesla from $304.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, December 22nd. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $221.39.

Insider Activity at Tesla

In related news, CAO Vaibhav Taneja sold 2,466 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $195.79, for a total value of $482,818.14. Following the transaction, the chief accounting officer now directly owns 100,458 shares of the company’s stock, valued at approximately $19,668,671.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $117.50, for a total value of $1,233,750.00. Following the transaction, the senior vice president now directly owns 64,259 shares of the company’s stock, valued at approximately $7,550,432.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Vaibhav Taneja sold 2,466 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $195.79, for a total value of $482,818.14. Following the completion of the transaction, the chief accounting officer now directly owns 100,458 shares in the company, valued at $19,668,671.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,221 shares of company stock valued at $8,988,542. Corporate insiders own 25.10% of the company’s stock.

Tesla Company Profile

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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