712 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Avity Investment Management Inc.

Avity Investment Management Inc. acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 712 shares of the electric vehicle producer’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. International Assets Investment Management LLC lifted its stake in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Clean Energy Transition LLP increased its holdings in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after acquiring an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP increased its stake in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on TSLA shares. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Canaccord Genuity Group increased their price objective on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Jefferies Financial Group lifted their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Stifel Nicolaus raised their price objective on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Morgan Stanley lifted their price objective on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Monday. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $299.33.

Insider Activity

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 621,886 shares of company stock worth $213,451,751. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Up 8.0 %

Shares of TSLA stock opened at $428.22 on Thursday. 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 moving average price is $382.71 and its two-hundred day moving average price is $284.69. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 117.32, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the company earned $0.53 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

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.