Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,598 shares of the electric vehicle producer’s stock after purchasing an additional 211 shares during the period. Coastal Bridge Advisors LLC’s holdings in Tesla were worth $1,453,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TSLA. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.5% during 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 purchasing an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its stake in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after buying an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new stake in Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC boosted its stake in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Finally, Northern Trust Corp increased its stake in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TSLA shares. Truist Financial set a $280.00 price target on Tesla in a report on Tuesday, April 22nd. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Morgan Stanley restated a “buy” rating and issued a $430.00 price objective on shares of Tesla in a research report on Tuesday, April 22nd. Finally, Cantor Fitzgerald reduced their price target on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $287.46.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $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 quarter, insiders have sold 296,228 shares of company stock worth $83,590,784. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $276.22 on Thursday. The business has a fifty day moving average price of $258.13 and a 200-day moving average price of $325.63. The company has a market capitalization of $889.69 billion, a PE ratio of 135.40, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm earned $0.45 EPS. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.