RiverPark Advisors LLC Buys 2,424 Shares of Tesla, Inc. (NASDAQ:TSLA)

RiverPark Advisors LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2,308.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,529 shares of the electric vehicle producer's stock after buying an additional 2,424 shares during the period. RiverPark Advisors LLC's holdings in Tesla were worth $1,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TSLA. Vanguard Group Inc. lifted its stake in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC raised its position in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank purchased a new position in shares of Tesla during the 4th quarter worth $14,420,248,000. FMR LLC increased its stake in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Tesla by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer's stock valued at $6,996,871,000 after purchasing an additional 780,026 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Stifel Nicolaus cut their price objective on Tesla from $474.00 to $455.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Royal Bank of Canada reduced their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Wednesday. Finally, Bank of America lowered their price objective on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $283.24.

Tesla Stock Up 5.5 %

NASDAQ TSLA opened at $251.07 on Thursday. 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, Inc. has a 52 week low of $157.51 and a 52 week high of $488.54. The firm has a market capitalization of $807.56 billion, a price-to-earnings ratio of 123.07, a PEG ratio of 5.86 and a beta of 2.58. The company has a fifty day moving average of $267.29 and a two-hundred day moving average of $322.05.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. The trade was a 12.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is currently owned by insiders.

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.

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