Choate Investment Advisors Acquires 1,862 Shares of Tesla, Inc. (NASDAQ:TSLA)

Choate Investment Advisors grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.7% in the 4th quarter, Holdings Channel reports. The fund owned 12,363 shares of the electric vehicle producer’s stock after buying an additional 1,862 shares during the period. Choate Investment Advisors’ holdings in Tesla were worth $4,993,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. World Investment Advisors LLC grew its holdings in shares of Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after purchasing an additional 184,459 shares during the last quarter. Destination Wealth Management grew its holdings in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Stephens Consulting LLC grew its holdings in shares of Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after purchasing an additional 891 shares during the last quarter. Vinva Investment Management Ltd grew its holdings in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after purchasing an additional 9,919 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $249.98 on Friday. The firm has a 50-day moving average of $351.31 and a 200-day moving average of $319.51. The company has a market cap of $804.06 billion, a P/E ratio of 122.54, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research reports. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Mizuho reiterated an “outperform” rating and set a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Guggenheim cut their target price on shares of Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Finally, Glj Research reiterated a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Nine research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $325.65.

Insider Activity at Tesla

In related news, 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by company insiders.

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.