C2C Wealth Management LLC Acquires Shares of 1,381 Tesla, Inc. (NASDAQ:TSLA)

C2C Wealth Management LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,381 shares of the electric vehicle producer's stock, valued at approximately $558,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Tesla in the fourth quarter worth $14,420,248,000. Strategic Financial Concepts LLC lifted its position in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Tesla by 55,181.0% during the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer's stock valued at $1,769,899,000 after purchasing an additional 4,374,746 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer's stock valued at $2,215,765,000 after purchasing an additional 3,624,910 shares in the last quarter. Finally, Vanguard Group Inc. increased 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 worth $98,211,134,000 after buying an additional 3,571,793 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TSLA. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating on the stock in a research report on Wednesday, March 12th. Roth Capital upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Wells Fargo & Company decreased their price target 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. The Goldman Sachs Group restated a "cautious" rating on shares of Tesla in a research note on Monday, March 3rd. Finally, Glj Research restated a "buy" rating on shares of Tesla in a research report on Tuesday, March 11th. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $317.75.

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Tesla Stock Performance

NASDAQ TSLA traded down $4.39 on Monday, hitting $259.16. 133,362,829 shares of the stock were exchanged, compared to its average volume of 93,380,672. The business's fifty day moving average is $321.33 and its 200 day moving average is $323.01. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a market capitalization of $833.59 billion, a PE ratio of 127.04, a P/E/G ratio of 5.86 and a beta of 2.50. 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 results on Wednesday, January 29th. The electric vehicle producer reported $0.66 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%. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the business'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 directly owns 108,965 shares of the company's stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company's stock.

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.