Lane & Associates LLC Buys 338 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lane & Associates LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,496 shares of the electric vehicle producer’s stock after buying an additional 338 shares during the quarter. Lane & Associates LLC’s holdings in Tesla were worth $605,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares in the last quarter. FMR LLC lifted its stake in Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after acquiring an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after purchasing an additional 301,968 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TSLA. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a report on Monday, January 6th. Canaccord Genuity Group increased their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada reissued a “mixed” rating on shares of Tesla in a research report on Saturday, February 8th. UBS Group raised their price objective on Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $319.57.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. The trade was a 56.94 % 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. Also, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. The trade was a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 over the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $330.53 on Tuesday. The stock has a market cap of $1.06 trillion, a price-to-earnings ratio of 162.03, a PEG ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a 50 day simple moving average of $397.52 and a two-hundred day simple moving average of $314.96. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.