Flputnam Investment Management Co. Buys 707 Shares of Tesla, Inc. (NASDAQ:TSLA)

Flputnam Investment Management Co. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,190 shares of the electric vehicle producer’s stock after purchasing an additional 707 shares during the quarter. Flputnam Investment Management Co.’s holdings in Tesla were worth $4,768,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Tesla during the fourth quarter valued at approximately $3,459,540,000. Moneta Group Investment Advisors LLC grew its stake in Tesla by 180,125.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after purchasing an additional 26,836,879 shares during the period. Bank of New York Mellon Corp grew its stake in Tesla by 203.9% in the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after purchasing an additional 13,558,882 shares during the period. International Assets Investment Management LLC grew its stake in Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after purchasing an additional 6,179,032 shares during the period. Finally, Morgan Stanley grew its stake in Tesla by 26.3% in the fourth quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock worth $3,132,119,000 after purchasing an additional 5,292,464 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA traded down $4.62 during trading on Tuesday, hitting $156.86. 34,393,915 shares of the stock traded hands, compared to its average volume of 101,216,898. The company has a market capitalization of $499.57 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 4.50 and a beta of 2.40. The firm has a 50-day simple moving average of $181.44 and a 200-day simple moving average of $213.70. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 12-month low of $152.37 and a 12-month high of $299.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 EPS. As a group, analysts predict that Tesla, Inc. will post 1.98 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on TSLA. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Tuesday, April 2nd. HSBC cut their target price on Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 3rd. Sanford C. Bernstein cut their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 26th. Wells Fargo & Company cut their target price on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Jefferies Financial Group cut their target price on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $198.81.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,631,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% 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.