New Age Alpha Advisors LLC Takes $25.34 Million Position in Tesla, Inc. (NASDAQ:TSLA)

New Age Alpha Advisors LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, HoldingsChannel reports. The fund acquired 62,742 shares of the electric vehicle producer’s stock, valued at approximately $25,338,000. Tesla comprises 1.0% of New Age Alpha Advisors LLC’s investment portfolio, making the stock its 7th largest position.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Tesla during the 4th quarter valued at about $14,420,248,000. Strategic Financial Concepts LLC increased its position in Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Tesla by 55,181.0% during the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after acquiring an additional 4,374,746 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares during the period. Finally, Vanguard Group Inc. lifted its position in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The shares were 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 directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last ninety days. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 target price on shares of Tesla in a research note on Monday, March 17th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Bank of America reduced their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $319.12.

Tesla Price Performance

Tesla stock opened at $273.13 on Friday. The company has a market cap of $878.53 billion, a price-to-earnings ratio of 133.89, a PEG ratio of 5.86 and a beta of 2.50. 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 business’s 50 day simple moving average is $324.59 and its 200 day simple moving average is $321.35. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly 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 return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.