AssuredPartners Investment Advisors LLC Makes New $9.61 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

AssuredPartners Investment Advisors LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 23,789 shares of the electric vehicle producer's stock, valued at approximately $9,607,000. Tesla makes up about 1.9% of AssuredPartners Investment Advisors LLC's holdings, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Vanguard Group Inc. raised its position in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after buying an additional 3,571,793 shares during the period. Geode Capital Management LLC lifted its position in shares of Tesla by 1.8% in the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer's stock worth $15,469,792,000 after purchasing an additional 1,022,589 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer's stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer's stock valued at $6,996,871,000 after buying an additional 780,026 shares during the period. Finally, Amundi raised its holdings in shares of Tesla by 1.2% during the fourth quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer's stock worth $5,117,345,000 after acquiring an additional 159,508 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company's stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 in the last three months. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of TSLA traded down $9.58 during trading hours on Friday, hitting $263.55. The stock had a trading volume of 123,100,723 shares, compared to its average volume of 93,218,015. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market capitalization of $847.71 billion, a price-to-earnings ratio of 129.19, a P/E/G ratio of 5.86 and a beta of 2.50. The company's fifty day moving average is $321.33 and its two-hundred day moving average is $321.68. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TSLA shares. Wells Fargo & Company dropped their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating for the company in a research note on Wednesday, March 12th. Truist Financial increased their price target on shares of Tesla from $351.00 to $373.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and upped their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the company an "in-line" rating in a report on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus target price of $318.34.

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.