RiverPark Advisors LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

RiverPark Advisors LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2,308.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,529 shares of the electric vehicle producer’s stock after purchasing an additional 2,424 shares during the period. RiverPark Advisors LLC’s holdings in Tesla were worth $1,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in TSLA. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter worth approximately $14,420,248,000. FMR LLC raised its stake in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of Tesla by 55,181.0% in the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after acquiring an additional 4,374,746 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSLA. Truist Financial decreased their price objective on Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a research note on Thursday, April 3rd. Canaccord Genuity Group lowered their price target on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday. Evercore ISI boosted their price objective on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research note on Friday, January 3rd. Glj Research restated a “sell” rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday. Finally, Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $283.24.

Tesla Price Performance

NASDAQ:TSLA opened at $251.07 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a 50 day moving average price of $267.29 and a 200-day moving average price of $322.05. Tesla, Inc. has a 1-year low of $157.51 and a 1-year high of $488.54. The firm has a market cap of $807.56 billion, a price-to-earnings ratio of 123.07, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the firm posted $0.45 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock worth $123,791,123 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

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.