Freedom Investment Management Inc. Acquires 1,109 Shares of Tesla, Inc. (NASDAQ:TSLA)

Freedom Investment Management Inc. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,443 shares of the electric vehicle producer’s stock after purchasing an additional 1,109 shares during the period. Freedom Investment Management Inc.’s holdings in Tesla were worth $3,006,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank bought a new position in Tesla in the 4th quarter worth about $14,420,248,000. FMR LLC grew its position in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Tesla by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after purchasing an additional 780,026 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 0.2 %

NASDAQ TSLA opened at $241.17 on Friday. The stock has a market cap of $775.71 billion, a PE ratio of 118.22, a P/E/G ratio of 5.86 and a beta of 2.58. 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, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock’s 50 day moving average is $275.67 and its 200 day moving average is $322.33.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 374,228 shares of company stock worth $123,791,123. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TSLA shares. Glj Research reiterated a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. HSBC cut their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Benchmark decreased their price target on Tesla from $475.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada dropped their price objective on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Finally, BNP Paribas set a $137.00 target price on Tesla and gave the stock an “underperform” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $292.18.

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.