Orion Portfolio Solutions LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Orion Portfolio Solutions LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,905 shares of the electric vehicle producer's stock after acquiring an additional 5,887 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Tesla were worth $35,500,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. grew its position in 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 acquired a new stake in shares of Tesla during the 3rd quarter valued at about $287,000. Quantbot Technologies LP purchased a new position in shares of Tesla in the 3rd quarter valued at about $687,000. Glenmede Trust Co. NA raised its holdings in Tesla by 34.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 50,899 shares of the electric vehicle producer's stock worth $13,317,000 after purchasing an additional 12,955 shares during the period. Finally, National Wealth Management Group LLC boosted its position in Tesla by 92.8% during the third quarter. National Wealth Management Group LLC now owns 4,925 shares of the electric vehicle producer's stock worth $1,289,000 after purchasing an additional 2,371 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, 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 value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 over the last quarter. 20.70% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent analyst reports. Roth Mkm upgraded Tesla from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Wedbush reissued an "outperform" rating and issued a $550.00 price target on shares of Tesla in a report on Thursday. Truist Financial increased their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a "hold" rating in a report on Thursday, January 30th. JPMorgan Chase & Co. cut their target price on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating for the company in a research note on Wednesday, March 12th. Finally, Roth Capital upgraded Tesla from a "hold" rating to a "strong-buy" rating in a report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla has an average rating of "Hold" and an average price target of $318.34.

Tesla Stock Down 3.5 %

Shares of Tesla stock traded down $9.58 on Friday, reaching $263.55. 123,100,723 shares of the company were exchanged, compared to its average volume of 93,218,015. The stock's 50 day moving average price is $321.33 and its 200-day moving average price is $322.34. The company has a market cap of $847.71 billion, a P/E ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. 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 (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates 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, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company 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.