Advisors Capital Management LLC Has $8.80 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Advisors Capital Management LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,790 shares of the electric vehicle producer's stock after acquiring an additional 4,675 shares during the period. Advisors Capital Management LLC's holdings in Tesla were worth $8,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TSLA. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. grew its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust acquired a new stake in Tesla during the fourth quarter worth $38,000. Delos Wealth Advisors LLC raised its holdings in Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer's stock valued at $40,000 after buying an additional 75 shares during the period. Finally, Cyrus J. Lawrence LLC purchased a new position in shares of Tesla during the 4th quarter worth approximately $44,000. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is currently owned by insiders.

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Tesla Price Performance

TSLA traded down $12.56 during midday trading on Wednesday, reaching $241.55. 111,552,968 shares of the company's stock were exchanged, compared to its average volume of 95,999,896. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a market capitalization of $776.95 billion, a price-to-earnings ratio of 118.41, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The business has a 50-day simple moving average of $280.27 and a two-hundred day simple moving average of $323.03. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. StockNews.com cut shares of Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Barclays raised their price target on Tesla from $270.00 to $325.00 and gave the company an "equal weight" rating in a report on Wednesday, January 15th. Wells Fargo & Company lowered their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. JPMorgan Chase & Co. dropped their price objective on Tesla from $135.00 to $120.00 and set an "underweight" rating for the company in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $404.00 price target on shares of Tesla in a research note on Monday, March 17th. Eight equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $297.03.

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.