CreativeOne Wealth LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

CreativeOne Wealth LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,585 shares of the electric vehicle producer's stock after buying an additional 6,518 shares during the quarter. CreativeOne Wealth LLC's holdings in Tesla were worth $17,602,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TSLA. Norges Bank acquired a new position in Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC lifted its stake in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Strategic Financial Concepts LLC boosted its holdings in Tesla by 36,790.0% during the fourth 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. Massachusetts Financial Services Co. MA boosted its stake in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of Tesla by 55,181.0% during the 4th 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 acquiring an additional 4,374,746 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. This trade represents a 12.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 374,228 shares of company stock worth $123,791,123. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Down 4.9 %

TSLA stock traded down $12.56 during mid-day trading on Wednesday, reaching $241.55. The company had a trading volume of 111,893,536 shares, compared to its average volume of 96,000,727. The firm has a fifty day simple moving average of $280.27 and a 200 day simple moving average of $323.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company 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. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly 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%. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on TSLA. Morgan Stanley reduced their target price on Tesla from $430.00 to $410.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. New Street Research upgraded Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price objective for the company in a research note on Monday, January 6th. Bank of America dropped their price target on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. UBS Group dropped their target price on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Finally, Evercore ISI upped their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an "in-line" rating in a research note on Friday, January 3rd. Eight research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $297.03.

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.