Twin Capital Management Inc. Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Twin Capital Management Inc. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 41,489 shares of the electric vehicle producer’s stock after purchasing an additional 969 shares during the period. Tesla accounts for approximately 1.8% of Twin Capital Management Inc.’s portfolio, making the stock its 8th largest position. Twin Capital Management Inc.’s holdings in Tesla were worth $16,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. increased its holdings in shares of Tesla by 6.6% during the 4th quarter. Invesco Ltd. now owns 12,575,114 shares of the electric vehicle producer’s stock worth $5,078,334,000 after purchasing an additional 774,383 shares during the period. Employees Retirement System of Texas raised its stake in shares of Tesla by 20.7% in the 4th quarter. Employees Retirement System of Texas now owns 426,983 shares of the electric vehicle producer’s stock valued at $172,433,000 after buying an additional 73,340 shares in the last quarter. Concentrum Wealth Management increased its stake in Tesla by 3.2% in the fourth quarter. Concentrum Wealth Management now owns 20,729 shares of the electric vehicle producer’s stock valued at $8,371,000 after acquiring an additional 639 shares during the period. Wellspring Financial Advisors LLC raised its stake in shares of Tesla by 19.4% in the fourth quarter. Wellspring Financial Advisors LLC now owns 14,508 shares of the electric vehicle producer’s stock valued at $5,859,000 after acquiring an additional 2,357 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Tesla by 1.4% in the fourth quarter. Cerity Partners LLC now owns 393,754 shares of the electric vehicle producer’s stock valued at $159,014,000 after buying an additional 5,619 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were 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 represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 370,228 shares of company stock worth $122,791,123. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $239.43 on Monday. 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, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock has a market capitalization of $770.13 billion, a PE ratio of 117.37, a P/E/G ratio of 5.86 and a beta of 2.58. The business has a fifty day moving average price of $305.98 and a two-hundred day moving average price of $324.24.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Royal Bank of Canada dropped their price objective on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Mizuho reduced their price objective on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, March 17th. HSBC dropped their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research report on Thursday, March 27th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, The Goldman Sachs Group cut their target price on Tesla from $320.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday. Eight equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $312.65.

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.