Raleigh Capital Management Inc. Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Raleigh Capital Management Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 41.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,035 shares of the electric vehicle producer’s stock after buying an additional 1,474 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Tesla were worth $2,033,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in TSLA. International Assets Investment Management LLC boosted its position in Tesla by 35,611.2% during the 3rd 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. Assenagon Asset Management S.A. grew its position in Tesla by 194.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after purchasing an additional 3,624,910 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tesla by 13.7% in the third 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 valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Wellington Management Group LLP boosted its position in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after buying an additional 2,511,488 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after buying an additional 1,479,378 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock valued at $212,451,751 in the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 1.4 %

NASDAQ TSLA opened at $406.58 on Friday. The stock’s 50 day moving average price is $398.82 and its two-hundred day moving average price is $294.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, analysts anticipate that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSLA. Guggenheim lifted their price target on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research report on Thursday, December 5th. Cantor Fitzgerald lifted their price target on Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Friday, January 3rd. Wedbush lifted their price objective on shares of Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $313.84.

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.