Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 41.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,035 shares of the electric vehicle producer’s stock after buying an additional 1,474 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Tesla were worth $2,033,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. D.B. Root & Company LLC increased its stake in shares of Tesla by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 4,135 shares of the electric vehicle producer’s stock worth $1,670,000 after purchasing an additional 41 shares in the last quarter. Echo45 Advisors LLC boosted its stake in shares of Tesla by 3.7% in the fourth quarter. Echo45 Advisors LLC now owns 1,240 shares of the electric vehicle producer’s stock worth $509,000 after acquiring an additional 44 shares during the last quarter. True North Advisors LLC raised its stake in Tesla by 3.8% in the 4th quarter. True North Advisors LLC now owns 3,468 shares of the electric vehicle producer’s stock valued at $1,400,000 after purchasing an additional 127 shares during the last quarter. Independent Wealth Network Inc. lifted its holdings in Tesla by 77.2% in the 4th quarter. Independent Wealth Network Inc. now owns 3,381 shares of the electric vehicle producer’s stock valued at $1,365,000 after purchasing an additional 1,473 shares in the last quarter. Finally, Wesbanco Bank Inc. grew its holdings in shares of Tesla by 3.4% during the fourth quarter. Wesbanco Bank Inc. now owns 31,111 shares of the electric vehicle producer’s stock worth $12,564,000 after buying an additional 1,037 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on TSLA. Barclays lifted their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group increased their price target on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upped their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and increased their price target for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Eight research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $313.84.

Tesla Stock Performance

Shares of TSLA opened at $406.58 on Friday. The company has a 50-day simple moving average of $398.82 and a 200-day simple moving average of $294.03. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.31 trillion, a PE ratio of 111.39, a P/E/G ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm 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%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. Equities research analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock worth $212,451,751 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

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.