Tesla, Inc. (NASDAQ:TSLA) is Victory Capital Management Inc.’s 8th Largest Position

Victory Capital Management Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 2,085,957 shares of the electric vehicle producer’s stock after purchasing an additional 23,405 shares during the period. Tesla comprises approximately 0.8% of Victory Capital Management Inc.’s holdings, making the stock its 8th largest position. Victory Capital Management Inc.’s holdings in Tesla were worth $842,393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in Tesla in the third quarter valued at about $29,000. Peterson Financial Group Inc. purchased a new position in Tesla in the third quarter valued at about $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter valued at about $46,000. PayPay Securities Corp increased its holdings in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after buying an additional 69 shares in the last quarter. Finally, Finley Financial LLC purchased a new position in Tesla in the fourth quarter valued at about $64,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Benchmark assumed coverage on shares of Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company increased their price target on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Finally, Mizuho reiterated an “outperform” rating and issued a $515.00 price target on shares of Tesla in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $315.33.

Tesla Stock Performance

Shares of TSLA stock opened at $279.10 on Thursday. The company’s fifty day simple moving average is $374.97 and its 200-day simple moving average is $318.13. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $897.73 billion, a PE ratio of 136.81, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the transaction, the chief financial officer now owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. This trade represents a 20.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the sale, the director now directly owns 85,000 shares in the company, valued at $25,466,850. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 422,386 shares of company stock valued at $153,916,675. Company insiders own 20.70% of the company’s stock.

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.