Nemes Rush Group LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,131 shares of the electric vehicle producer's stock after acquiring an additional 4,723 shares during the period. Nemes Rush Group LLC's holdings in Tesla were worth $6,514,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the business. Principal Financial Group Inc. boosted its position in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock valued at $955,052,000 after buying an additional 194,796 shares during the period. United Bank bought a new stake in shares of Tesla during the third quarter valued at approximately $287,000. Quantbot Technologies LP bought a new stake in Tesla during the 3rd quarter valued at $687,000. Cobblestone Capital Advisors LLC NY bought a new stake in shares of Tesla in the third quarter valued at about $246,000. Finally, Kestra Investment Management LLC bought a new position in Tesla during the 3rd quarter worth about $875,000. Institutional investors own 66.20% of the company's stock.
Tesla Trading Up 3.6 %
NASDAQ TSLA traded up $9.30 on Tuesday, reaching $268.46. 145,757,545 shares of the company were exchanged, compared to its average volume of 93,639,188. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock has a market capitalization of $863.51 billion, a P/E ratio of 131.60, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The business's fifty day moving average price is $314.87 and its 200 day moving average price is $323.48. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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%. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.
Analysts Set New Price Targets
A number of analysts have weighed in on TSLA shares. Morgan Stanley lowered their target price on Tesla from $430.00 to $410.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Monday, February 10th. Finally, Guggenheim lowered their price target on Tesla from $175.00 to $170.00 and set a "sell" rating for the company in a research report on Wednesday, March 12th. Nine analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $317.75.
Check Out Our Latest Report on Tesla
Insider Transactions at Tesla
In other Tesla news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated 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 of the company's stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $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 90 days. Insiders own 20.70% of the company's stock.
Tesla Profile
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Free Report)
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.
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