Miller Financial Services LLC Takes $2.04 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Miller Financial Services LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, HoldingsChannel.com reports. The fund bought 5,057 shares of the electric vehicle producer’s stock, valued at approximately $2,042,000. Tesla makes up about 1.7% of Miller Financial Services LLC’s holdings, making the stock its 9th largest holding.

A number of other hedge funds have also recently modified their holdings of TSLA. Geode Capital Management LLC boosted its position in 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 valued at $15,469,792,000 after acquiring an additional 1,022,589 shares in the last quarter. FMR LLC boosted its position in Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after acquiring an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 valued at $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Tesla by 4.7% during 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 acquiring an additional 780,026 shares in the last quarter. Finally, Amundi boosted its position in Tesla by 1.2% during the 4th quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer’s stock valued at $5,117,345,000 after acquiring an additional 159,508 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 422,452 shares of company stock valued at $153,659,530 over the last quarter. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TSLA. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Guggenheim reiterated a “sell” rating on shares of Tesla in a report on Tuesday, February 25th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $380.00 in a report on Monday, December 2nd. StockNews.com lowered Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Nine equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $326.31.

Tesla Stock Down 15.4 %

TSLA stock opened at $222.15 on Tuesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a market capitalization of $714.55 billion, a price-to-earnings ratio of 108.90, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The firm’s 50-day moving average is $363.87 and its two-hundred day moving average is $319.46. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

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