Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Centric Wealth Management

Centric Wealth Management lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 167.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,937 shares of the electric vehicle producer’s stock after acquiring an additional 2,463 shares during the quarter. Centric Wealth Management’s holdings in Tesla were worth $1,590,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in Tesla during the 4th quarter worth about $14,420,248,000. Strategic Financial Concepts LLC increased its position in shares of Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after acquiring an additional 8,637,195 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Tesla by 55,181.0% during the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after acquiring an additional 4,374,746 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of 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 valued at $2,215,765,000 after acquiring an additional 3,624,910 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $404.00 target price on shares of Tesla in a research report on Monday, March 17th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and lifted their target price for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Truist Financial upped their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Stifel Nicolaus lowered their price target on shares of Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a report on Monday. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $317.75.

Tesla Trading Down 1.7 %

Shares of Tesla stock opened at $259.16 on Tuesday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market capitalization of $833.59 billion, a PE ratio of 127.04, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company’s fifty day moving average price is $317.98 and its two-hundred day moving average price is $323.21.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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%. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla 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 directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by company 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.