Tesla, Inc. (NASDAQ:TSLA) Stock Position Boosted by Worth Asset Management LLC

Worth Asset Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 383.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,314 shares of the electric vehicle producer’s stock after purchasing an additional 6,593 shares during the quarter. Tesla makes up about 1.8% of Worth Asset Management LLC’s portfolio, making the stock its 9th biggest position. Worth Asset Management LLC’s holdings in Tesla were worth $3,358,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in Tesla by 39.9% during the 2nd quarter. Acadian Asset Management LLC now owns 61,681 shares of the electric vehicle producer’s stock valued at $12,202,000 after acquiring an additional 17,592 shares in the last quarter. Cahill Financial Advisors Inc. increased its position in shares of Tesla by 14.8% during the second quarter. Cahill Financial Advisors Inc. now owns 1,485 shares of the electric vehicle producer’s stock worth $294,000 after purchasing an additional 192 shares in the last quarter. Global X Japan Co. Ltd. lifted its holdings in shares of Tesla by 114.0% during the 2nd quarter. Global X Japan Co. Ltd. now owns 141,779 shares of the electric vehicle producer’s stock valued at $28,055,000 after purchasing an additional 75,526 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of Tesla by 20.6% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 16,041 shares of the electric vehicle producer’s stock worth $3,174,000 after purchasing an additional 2,745 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in Tesla by 1.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 1,249,816 shares of the electric vehicle producer’s stock worth $247,314,000 after buying an additional 16,451 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on TSLA. Wells Fargo & Company lifted their price target on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Barclays upped their target price on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Royal Bank of Canada raised their price target on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Robert W. Baird upped their price objective on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Finally, Morgan Stanley raised their target price on shares of Tesla from $310.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Nine analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $295.69.

Tesla Stock Performance

Shares of TSLA stock traded down $0.67 during midday trading on Wednesday, hitting $393.69. The company had a trading volume of 43,719,389 shares, compared to its average volume of 81,567,711. The stock has a market cap of $1.26 trillion, a price-to-earnings ratio of 107.86, a PEG ratio of 10.80 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company’s 50 day simple moving average is $368.03 and its 200 day simple moving average is $277.49. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. Research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’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 transaction of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 514,886 shares of company stock valued at $169,393,831 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

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.