Generali Investments Management Co LLC Buys Shares of 9,434 Tesla, Inc. (NASDAQ:TSLA)

Generali Investments Management Co LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 9,434 shares of the electric vehicle producer’s stock, valued at approximately $3,810,000. Tesla comprises about 1.0% of Generali Investments Management Co LLC’s holdings, making the stock its 25th biggest position.

Other large investors also recently made changes to their positions in the company. Hengehold Capital Management LLC raised its position in Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after purchasing an additional 24 shares during the period. Strategic Investment Advisors MI raised its position in Tesla by 0.3% in the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after purchasing an additional 24 shares during the period. Acropolis Investment Management LLC raised its position in Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after purchasing an additional 25 shares during the period. Mount Vernon Associates Inc. MD raised its position in Tesla by 0.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after purchasing an additional 25 shares during the period. Finally, Vista Finance LLC raised its position in Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,228 shares of company stock valued at $166,849,043. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Piper Sandler raised their price objective on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Truist Financial raised their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Barclays raised their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. lowered their target price on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research note on Wednesday, March 12th. Nine investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $319.25.

Tesla Stock Performance

Shares of TSLA stock opened at $225.31 on Wednesday. The business has a 50 day moving average of $344.47 and a two-hundred day moving average of $320.61. The company has a market cap of $724.71 billion, a P/E ratio of 110.45, a PEG ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates 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 anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.