Independent Wealth Network Inc. Purchases 1,473 Shares of Tesla, Inc. (NASDAQ:TSLA)

Independent Wealth Network Inc. grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 77.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,381 shares of the electric vehicle producer's stock after acquiring an additional 1,473 shares during the quarter. Independent Wealth Network Inc.'s holdings in Tesla were worth $1,365,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TSLA. International Assets Investment Management LLC boosted its position in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Tesla by 194.7% during 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 acquiring an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tesla by 13.7% in 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 acquiring an additional 2,946,763 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer's stock valued at $1,921,548,000 after acquiring an additional 2,511,488 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer's stock worth $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. Stifel Nicolaus lifted their target price on Tesla from $411.00 to $492.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Guggenheim lifted their price objective on shares of Tesla from $156.00 to $175.00 and gave the stock a "sell" rating in a research report on Thursday, December 5th. Wedbush increased their price objective on shares of Tesla from $515.00 to $550.00 and gave the company an "outperform" rating in a research report on Wednesday. Evercore ISI lifted their target price on shares of Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a report on Friday, January 3rd. Finally, StockNews.com raised shares of Tesla from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $313.84.

Tesla Stock Performance

Shares of TSLA stock traded down $5.80 during mid-day trading on Friday, hitting $406.58. The stock had a trading volume of 56,102,963 shares, compared to its average volume of 67,394,624. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a market cap of $1.31 trillion, a PE ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company's 50-day simple moving average is $398.82 and its 200-day simple moving average is $294.26.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla's revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.01 earnings per share for the current year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company's stock, valued at $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company's stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 617,886 shares of company stock valued at $212,451,751 over the last 90 days. Corporate 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.