Victory Capital Management Inc. Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Victory Capital Management Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.8% in the 4th quarter, HoldingsChannel reports. The fund owned 2,374,719 shares of the electric vehicle producer’s stock after purchasing an additional 108,055 shares during the quarter. Tesla comprises 0.6% of Victory Capital Management Inc.’s investment portfolio, making the stock its 9th largest position. Victory Capital Management Inc.’s holdings in Tesla were worth $590,070,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TSLA. Holderness Investments Co. lifted its holdings in shares of Tesla by 1.6% during the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares during the last quarter. SCS Capital Management LLC raised its stake in Tesla by 0.3% in the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after buying an additional 45 shares during the last quarter. Daymark Wealth Partners LLC boosted its holdings in Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after acquiring an additional 45 shares in the last quarter. ML & R Wealth Management LLC grew its stake in shares of Tesla by 2.6% during the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock worth $455,000 after acquiring an additional 46 shares during the last quarter. Finally, LCM Capital Management Inc grew its stake in shares of Tesla by 3.5% during the third quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock worth $344,000 after acquiring an additional 46 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on 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 sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’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 owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 over the last three months. 20.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on TSLA shares. HSBC lowered their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research note on Wednesday, April 24th. Canaccord Genuity Group lowered 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. Robert W. Baird reissued an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research report on Wednesday, April 17th. Guggenheim reaffirmed a “sell” rating and set a $122.00 price target on shares of Tesla in a research report on Tuesday, April 23rd. Finally, Canaccord Genuity Group cut their price objective on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $184.32.

Tesla Price Performance

NASDAQ TSLA traded down $2.40 during trading hours on Wednesday, reaching $180.88. The company’s stock had a trading volume of 52,343,043 shares, compared to its average volume of 104,679,563. The firm has a market capitalization of $576.86 billion, a price-to-earnings ratio of 45.96, a P/E/G ratio of 5.28 and a beta of 2.39. The company’s 50-day moving average is $174.71 and its two-hundred day moving average is $206.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

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.