Alta Capital Management LLC Buys Shares of 500 Tesla, Inc. (NASDAQ:TSLA)

Alta Capital Management LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 500 shares of the electric vehicle producer’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares during the period. FMR LLC grew its position in shares of Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after buying an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. grew its position in Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after purchasing an additional 780,026 shares during the period. Finally, Jennison Associates LLC grew its position in Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated 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 owns 108,965 shares of the company’s stock, valued at $41,745,581.15. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,996 shares of company stock valued at $118,467,387. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Down 4.4 %

Shares of NASDAQ TSLA opened at $272.11 on Wednesday. Tesla, Inc. has a 1 year low of $138.80 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. The company has a market capitalization of $875.24 billion, a price-to-earnings ratio of 133.39, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The business has a 50-day moving average of $378.63 and a two-hundred day moving average of $318.40.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on TSLA shares. Evercore ISI raised their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Bank of America decreased their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Piper Sandler boosted their price objective on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Guggenheim restated a “sell” rating on shares of Tesla in a research report on Tuesday, February 25th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $315.33.

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.