Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,210,664 shares of the electric vehicle producer’s stock after acquiring an additional 105,371 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Tesla were worth $488,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Horrell Capital Management Inc. boosted its stake in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. grew its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $38,000. Delos Wealth Advisors LLC raised its holdings in shares of Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after purchasing an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new stake in shares of Tesla during the 4th quarter worth $44,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $239.43 on Friday. The business’s fifty day moving average price is $305.98 and its two-hundred day moving average price is $322.90. 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 price-to-earnings ratio of 117.37, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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%. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of Tesla 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 transaction, the director now 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. Insiders have sold 477,228 shares of company stock valued at $166,849,043 over the last 90 days. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on TSLA. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Piper Sandler decreased their price objective on Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Royal Bank of Canada lowered their price target on Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Glj Research reissued a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Finally, UBS Group dropped their price target on shares of Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a research note on Monday, March 10th. Eight investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $312.65.

Tesla 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.