Grant Private Wealth Management Inc Buys Shares of 8,924 Tesla, Inc. (NASDAQ:TSLA)

Grant Private Wealth Management Inc purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,924 shares of the electric vehicle producer's stock, valued at approximately $3,604,000. Tesla makes up approximately 3.9% of Grant Private Wealth Management Inc's holdings, making the stock its 5th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Tesla during the 4th quarter valued at $14,420,248,000. Strategic Financial Concepts LLC increased its holdings in shares of Tesla by 36,790.0% in 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 during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of 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 period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer's stock worth $2,215,765,000 after purchasing an additional 3,624,910 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

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Tesla Price Performance

Shares of NASDAQ TSLA traded down $15.48 during mid-day trading on Thursday, reaching $267.28. The company's stock had a trading volume of 135,622,518 shares, compared to its average volume of 94,233,690. 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, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock has a fifty day moving average of $309.32 and a two-hundred day moving average of $322.81. The firm has a market capitalization of $859.71 billion, a PE ratio of 131.02, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results 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 net margin of 7.26% and a return on equity of 10.31%. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the 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 transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction dated Monday, January 6th. The stock was 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 in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus cut their price target on shares of Tesla from $474.00 to $455.00 and set a "buy" rating on the stock in a report on Monday. Bank of America reduced their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. HSBC dropped their target price on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. Mizuho dropped their price target on Tesla from $515.00 to $430.00 and set an "outperform" rating on the stock in a research report on Monday, March 17th. Finally, Glj Research restated a "buy" rating on shares of Tesla in a report on Tuesday, March 11th. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given 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 price target of $312.65.

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.