Investment House LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Investment House LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,605 shares of the electric vehicle producer’s stock after buying an additional 205 shares during the quarter. Investment House LLC’s holdings in Tesla were worth $2,264,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Swedbank AB grew its holdings in shares of Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after buying an additional 29,669 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the last quarter. United Bank purchased a new position in shares of Tesla during the third quarter worth about $287,000. Baron Wealth Management LLC grew its holdings in shares of Tesla by 5.4% during the third quarter. Baron Wealth Management LLC now owns 3,187 shares of the electric vehicle producer’s stock worth $834,000 after buying an additional 164 shares during the last quarter. Finally, Caprock Group LLC grew its holdings in shares of Tesla by 22.8% during the third quarter. Caprock Group LLC now owns 39,455 shares of the electric vehicle producer’s stock worth $10,323,000 after buying an additional 7,333 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSLA. New Street Research raised 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. Bank of America lowered their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Monday, February 10th. Morgan Stanley reaffirmed a “top pick” rating and issued a $430.00 price objective on shares of Tesla in a report on Monday, March 3rd. Finally, Piper Sandler lifted their price objective on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Nine investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $319.25.

Tesla Stock Down 5.3 %

Shares of NASDAQ:TSLA opened at $225.31 on Wednesday. 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 capitalization of $724.71 billion, a PE ratio of 110.45, a PEG ratio of 5.86 and a beta of 2.50. The company has a 50 day moving average price of $344.47 and a two-hundred day moving average price of $320.61.

Tesla (NASDAQ:TSLA) last issued 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%. Analysts forecast 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.