Main Street Research LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Main Street Research LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,198 shares of the electric vehicle producer’s stock after buying an additional 1,394 shares during the period. Main Street Research LLC’s holdings in Tesla were worth $3,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Mount Vernon Associates Inc. MD raised its holdings in Tesla by 5.3% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after purchasing an additional 350 shares during the period. Oak Ridge Investments LLC raised its holdings in Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after acquiring an additional 1,405 shares during the period. CWM LLC raised its holdings in Tesla by 14.4% during the third quarter. CWM LLC now owns 146,740 shares of the electric vehicle producer’s stock valued at $36,717,000 after acquiring an additional 18,462 shares during the period. Corient Private Wealth LLC raised its holdings in Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after acquiring an additional 25,943 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after acquiring an additional 81,729 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on TSLA. Truist Financial decreased their target price on Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a research report on Wednesday, April 3rd. Redburn Atlantic assumed coverage on shares of Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price on the stock. Jefferies Financial Group dropped their price target on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. UBS Group lowered their price objective on Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Finally, Canaccord Genuity Group dropped their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $198.81.

Tesla Stock Down 2.3 %

TSLA stock traded down $3.76 during trading on Tuesday, reaching $157.72. 76,868,251 shares of the company traded hands, compared to its average volume of 101,860,047. Tesla, Inc. has a 12 month low of $152.37 and a 12 month high of $299.29. The business has a 50 day simple moving average of $181.44 and a 200 day simple moving average of $213.70. The company has a market capitalization of $502.31 billion, a price-to-earnings ratio of 36.36, a price-to-earnings-growth ratio of 4.50 and a beta of 2.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 1.98 earnings per share for the current fiscal year.

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.