Advisors Capital Management LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Advisors Capital Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 27.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,790 shares of the electric vehicle producer’s stock after purchasing an additional 4,675 shares during the period. Advisors Capital Management LLC’s holdings in Tesla were worth $8,800,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Horrell Capital Management Inc. lifted its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. lifted its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in shares of Tesla in the 4th quarter worth approximately $38,000. Delos Wealth Advisors LLC grew its stake in shares of Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after buying an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC bought a new position in Tesla during the 4th quarter valued at approximately $44,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TSLA. Cantor Fitzgerald reissued an “overweight” rating and issued a $425.00 target price on shares of Tesla in a research note on Thursday, April 3rd. Guggenheim reduced their price objective on shares of Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research note on Wednesday, March 12th. Glj Research reiterated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Truist Financial decreased their price objective on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $298.59.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 0.2 %

Shares of TSLA stock opened at $251.96 on Monday. The stock has a fifty day simple moving average of $285.19 and a two-hundred day simple moving average of $323.57. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm has a market capitalization of $810.42 billion, a PE ratio of 123.51, a PEG ratio of 5.86 and a beta of 2.58. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 net margin of 7.26% and a return on equity of 10.31%. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla 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.