Transce3nd LLC Makes New $2.50 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

Transce3nd LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,190 shares of the electric vehicle producer's stock, valued at approximately $2,499,000. Tesla makes up approximately 0.8% of Transce3nd LLC's holdings, making the stock its 17th biggest holding.

Several other institutional investors have also recently made changes to their positions in TSLA. Destination Wealth Management grew its position in Tesla by 12.1% during the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock valued at $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Stephens Consulting LLC increased its position in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after buying an additional 891 shares during the period. Worth Asset Management LLC boosted its position in shares of Tesla by 383.1% during the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock valued at $3,358,000 after purchasing an additional 6,593 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. increased its stake in shares of Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Ameritas Advisory Services LLC lifted its holdings in shares of Tesla by 104.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer's stock valued at $23,242,000 after purchasing an additional 29,458 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 75,000 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the transaction, the director now directly owns 1,463,220 shares of the company's stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock valued at $123,791,123 in the last ninety days. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

Tesla stock traded up $6.36 during mid-day trading on Thursday, reaching $257.10. The company had a trading volume of 66,925,493 shares, compared to its average volume of 96,092,536. The stock's 50-day simple moving average is $267.29 and its 200-day simple moving average is $322.05. Tesla, Inc. has a 1 year low of $157.51 and a 1 year 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 company has a market capitalization of $826.95 billion, a P/E ratio of 125.62, a P/E/G ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter last year, the business earned $0.45 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Benchmark reaffirmed a "buy" rating and issued a $350.00 target price on shares of Tesla in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday. Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Cantor Fitzgerald cut their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Mizuho decreased their price target on shares of Tesla from $375.00 to $325.00 and set an "outperform" rating on the stock in a research note on Wednesday. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $286.85.

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.