Renaissance Technologies LLC Has $27.54 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Renaissance Technologies LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 76.0% in the 4th quarter, Holdings Channel reports. The fund owned 68,185 shares of the electric vehicle producer’s stock after selling 215,333 shares during the quarter. Renaissance Technologies LLC’s holdings in Tesla were worth $27,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Tesla in the fourth quarter valued at about $14,420,248,000. FMR LLC boosted its holdings in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Tesla by 36,790.0% in 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 purchasing an additional 8,637,195 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after buying an additional 5,719,466 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Tesla by 55,181.0% during the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after buying an additional 4,374,746 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TSLA. Barclays upped their price objective on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Truist Financial dropped their price target on Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a report on Thursday, April 3rd. Benchmark reduced their price objective on Tesla from $475.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday. Wedbush lowered their target price on Tesla from $550.00 to $315.00 and set an “outperform” rating for the company in a research note on Monday, April 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $298.59.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $251.96 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average price is $285.19 and its two-hundred day moving average price is $323.09. The company has a market cap of $810.42 billion, a PE ratio of 123.51, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54.

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

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. The trade was a 12.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 374,228 shares of company stock valued at $123,791,123 in the last three months. 20.70% of the stock is currently owned by company insiders.

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.