Nicholas Investment Partners LP Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Nicholas Investment Partners LP lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,752 shares of the electric vehicle producer’s stock after purchasing an additional 378 shares during the quarter. Nicholas Investment Partners LP’s holdings in Tesla were worth $1,515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NorthRock Partners LLC boosted its holdings in Tesla by 244.5% in the fourth quarter. NorthRock Partners LLC now owns 59,662 shares of the electric vehicle producer’s stock valued at $24,094,000 after purchasing an additional 42,344 shares during the period. Northeast Financial Consultants Inc acquired a new stake in shares of Tesla during the fourth quarter worth about $275,000. Nuveen Asset Management LLC lifted its stake in shares of Tesla by 19.8% in the 4th quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer’s stock worth $5,294,010,000 after acquiring an additional 2,170,449 shares during the period. Numerai GP LLC acquired a new stake in shares of Tesla in the 4th quarter valued at approximately $2,875,000. Finally, Occudo Quantitative Strategies LP grew its stake in shares of Tesla by 90.0% during the 4th quarter. Occudo Quantitative Strategies LP now owns 6,354 shares of the electric vehicle producer’s stock worth $2,566,000 after purchasing an additional 3,010 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several recent research reports. Benchmark restated a “buy” rating and set a $350.00 target price on shares of Tesla in a report on Wednesday, April 23rd. Morgan Stanley reaffirmed a “buy” rating and set a $430.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a report on Tuesday, April 22nd. Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Finally, Royal Bank of Canada dropped their price objective on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $287.46.

Tesla Price Performance

TSLA stock opened at $334.07 on Wednesday. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The firm has a market cap of $1.08 trillion, a P/E ratio of 163.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. 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 stock has a 50-day simple moving average of $260.85 and a 200-day simple moving average of $328.28.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the business earned $0.45 EPS. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $300.00, for a total value of $1,200,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $8,085,000. The trade was a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director now owns 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 412,623 shares of company stock worth $115,600,501 over the last ninety days. 20.70% of the stock is currently owned by insiders.

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.