Oppenheimer Asset Management Inc. Purchases 3,411 Shares of Tesla, Inc. (NASDAQ:TSLA)

Oppenheimer Asset Management Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,166 shares of the electric vehicle producer’s stock after purchasing an additional 3,411 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tesla were worth $20,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB lifted its holdings in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares in the last quarter. Foundation Wealth Management LLC purchased a new position in shares of Tesla in the third quarter worth $225,000. Hills Bank & Trust Co purchased a new position in shares of Tesla in the third quarter worth $137,000. Americana Partners LLC boosted its position in shares of Tesla by 15.8% during the third quarter. Americana Partners LLC now owns 3,589 shares of the electric vehicle producer’s stock worth $939,000 after acquiring an additional 491 shares during the last quarter. Finally, CacheTech Inc. grew its stake in Tesla by 24.5% during the third quarter. CacheTech Inc. now owns 3,283 shares of the electric vehicle producer’s stock valued at $859,000 after acquiring an additional 646 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday, January 6th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com downgraded Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Guggenheim restated a “sell” rating on shares of Tesla in a research report on Tuesday, February 25th. Ten investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $318.77.

Tesla Trading Up 4.0 %

TSLA opened at $293.33 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $385.35 and its two-hundred day moving average is $316.70. The company has a market capitalization of $943.49 billion, a P/E ratio of 143.79, a PEG ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

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

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is currently owned by corporate insiders.

Tesla 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.