Investment House LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Investment House LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,605 shares of the electric vehicle producer’s stock after purchasing an additional 205 shares during the quarter. Investment House LLC’s holdings in Tesla were worth $2,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Hengehold Capital Management LLC raised its holdings in Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock worth $544,000 after purchasing an additional 24 shares during the period. Strategic Investment Advisors MI raised its holdings in Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the period. Acropolis Investment Management LLC raised its holdings in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after acquiring an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD raised its holdings in shares of Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after acquiring an additional 25 shares during the last quarter. Finally, Vista Finance LLC raised its holdings in shares of Tesla by 0.7% during the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after acquiring an additional 25 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, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 477,228 shares of company stock worth $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Down 5.3 %

Shares of NASDAQ TSLA opened at $225.31 on Wednesday. The stock has a market cap of $724.71 billion, a P/E ratio of 110.45, a PEG ratio of 5.86 and a beta of 2.50. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The business’s fifty day simple moving average is $344.47 and its 200-day simple moving average is $320.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TSLA shares. Canaccord Genuity Group reissued a “buy” rating and set a $404.00 target price on shares of Tesla in a report on Monday. Truist Financial increased their target price on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reduced their target price on Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a report on Tuesday. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and increased their target price for the company from $180.00 to $388.00 in a report on Friday, March 7th. Finally, The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Nine research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $319.25.

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.