Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by PGGM Investments

PGGM Investments raised its position in Tesla, Inc. (NASDAQ:TSLA) by 100.6% during the fourth quarter, Holdings Channel reports. The firm owned 112,312 shares of the electric vehicle producer’s stock after buying an additional 56,324 shares during the quarter. PGGM Investments’ holdings in Tesla were worth $45,356,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the 3rd quarter valued at $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla in the 4th quarter valued at about $46,000. Parkworth Wealth Management Inc. purchased a new stake in Tesla during the fourth quarter worth about $47,000. PayPay Securities Corp lifted its position in shares of Tesla by 130.2% during the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock worth $49,000 after purchasing an additional 69 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in shares of Tesla in the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. 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 quarter. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TSLA. Benchmark initiated coverage on shares of Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target for the company. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Evercore ISI upped their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Guggenheim decreased their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating for the company in a research note on Wednesday. Finally, Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Nine analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $325.81.

Tesla Stock Up 7.6 %

Shares of NASDAQ:TSLA opened at $248.09 on Thursday. The company has a market cap of $797.99 billion, a price-to-earnings ratio of 121.61, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm’s 50-day simple moving average is $357.29 and its 200-day simple moving average is $319.03. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company 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.