Neuberger Berman Group LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Neuberger Berman Group LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 103.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 286,438 shares of the electric vehicle producer's stock after purchasing an additional 145,553 shares during the quarter. Neuberger Berman Group LLC's holdings in Tesla were worth $116,083,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Destination Wealth Management raised its stake in shares of Tesla by 12.1% in the third quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock valued at $3,296,000 after buying an additional 1,359 shares during the period. Stephens Consulting LLC lifted its position in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after purchasing an additional 891 shares during the last quarter. Worth Asset Management LLC lifted its holdings in shares of Tesla by 383.1% during the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock worth $3,358,000 after acquiring an additional 6,593 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. boosted its holdings in shares of Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its position in Tesla by 104.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer's stock valued at $23,242,000 after acquiring an additional 29,458 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Evercore ISI boosted their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an "in-line" rating in a research note on Friday, January 3rd. Cowen raised Tesla from a "hold" rating to a "buy" rating in a research note on Thursday, March 6th. Morgan Stanley reduced their price target on Tesla from $430.00 to $410.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Barclays boosted their price objective on Tesla from $270.00 to $325.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 15th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $404.00 target price on shares of Tesla in a report on Monday, March 17th. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $298.59.

Tesla Stock Down 1.5 %

Tesla stock traded down $3.71 during trading hours on Monday, hitting $248.60. The stock had a trading volume of 58,905,182 shares, compared to its average volume of 95,864,280. The stock's 50-day moving average price is $285.19 and its 200-day moving average price is $323.57. The stock has a market capitalization of $799.63 billion, a P/E ratio of 121.86, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now directly owns 85,000 shares of the company's stock, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is owned by insiders.

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.