US Asset Management LLC Takes $1.75 Million Position in Tesla, Inc. (NASDAQ:TSLA)

US Asset Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,027 shares of the electric vehicle producer’s stock, valued at approximately $1,746,000. Tesla makes up 1.7% of US Asset Management LLC’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Holderness Investments Co. lifted its position in shares of Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after acquiring an additional 42 shares in the last quarter. SCS Capital Management LLC lifted its position in Tesla by 0.3% during the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after buying an additional 45 shares in the last quarter. Daymark Wealth Partners LLC lifted its position in Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after buying an additional 45 shares in the last quarter. ML & R Wealth Management LLC lifted its position in Tesla by 2.6% during the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock worth $455,000 after buying an additional 46 shares in the last quarter. Finally, LCM Capital Management Inc lifted its position in Tesla by 3.5% during the third quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock worth $344,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.9 %

Shares of Tesla stock traded down $3.30 on Friday, hitting $168.67. 49,689,019 shares of the company traded hands, compared to its average volume of 102,820,758. The company has a 50-day moving average price of $171.97 and a 200 day moving average price of $203.89. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a market cap of $537.92 billion, a PE ratio of 43.02, a PEG ratio of 4.74 and a beta of 2.41.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last three months, insiders sold 302,803 shares of company stock worth $56,124,840. Corporate insiders own 20.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TSLA shares. Canaccord Genuity Group reduced their price objective on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Wedbush reiterated an “outperform” rating and set a $275.00 price objective on shares of Tesla in a research report on Monday, April 29th. Evercore ISI cut their target price on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday, April 29th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Finally, Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $185.90.

Tesla Company 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.