Jackson Square Capital LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 2,238 shares of the electric vehicle producer’s stock, valued at approximately $904,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Hanseatic Management Services Inc. acquired a new position in Tesla in the 4th quarter worth approximately $1,214,000. Ameritas Advisory Services LLC boosted its holdings in shares of Tesla by 104.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer’s stock valued at $23,242,000 after acquiring an additional 29,458 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Tesla by 0.6% in the fourth quarter. HB Wealth Management LLC now owns 425,644 shares of the electric vehicle producer’s stock worth $171,947,000 after acquiring an additional 2,426 shares during the period. Hubbell Strickland Wealth Management LLC purchased a new position in shares of Tesla during the fourth quarter worth $215,000. Finally, Shelton Wealth Management LLC acquired a new position in Tesla during the fourth quarter valued at $358,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.
Analysts Set New Price Targets
TSLA has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Cantor Fitzgerald lifted their price target on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler upped their price objective on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Truist Financial reaffirmed a “hold” rating and set a $360.00 target price on shares of Tesla in a report on Thursday, January 2nd. Finally, New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a report on Monday, January 6th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $299.33.
Tesla Stock Up 3.1 %
Shares of NASDAQ:TSLA opened at $426.50 on Tuesday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $389.94 and a two-hundred day moving average of $288.78. The stock has a market cap of $1.37 trillion, a P/E ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.53 earnings per share. On average, research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.
Insider Activity
In other Tesla news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is currently owned by company insiders.
Tesla Company Profile
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.
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