Russell Investments Group Ltd. Has $611.86 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Russell Investments Group Ltd. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,505,834 shares of the electric vehicle producer's stock after buying an additional 242,723 shares during the period. Tesla comprises approximately 0.8% of Russell Investments Group Ltd.'s holdings, making the stock its 12th biggest holding. Russell Investments Group Ltd.'s holdings in Tesla were worth $611,856,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rahlfs Capital LLC purchased a new stake in shares of Tesla during the fourth quarter worth about $426,000. Hurley Capital LLC acquired a new stake in Tesla during the 4th quarter valued at approximately $578,000. Envestnet Asset Management Inc. increased its holdings in Tesla by 9.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,210,664 shares of the electric vehicle producer's stock worth $488,914,000 after purchasing an additional 105,371 shares during the last quarter. Aviva PLC raised its position in shares of Tesla by 2.0% in the 4th quarter. Aviva PLC now owns 1,738,060 shares of the electric vehicle producer's stock valued at $701,898,000 after purchasing an additional 34,553 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Tesla during the 4th quarter valued at approximately $2,201,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 7,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company's stock, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,228 shares of company stock worth $122,791,123 over the last 90 days. 20.70% of the stock is owned by company insiders.

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Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Truist Financial cut their price target on shares of Tesla from $373.00 to $280.00 and set a "hold" rating on the stock in a report on Thursday. Bank of America cut their target price on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Canaccord Genuity Group reiterated a "buy" rating and issued a $404.00 price target on shares of Tesla in a research note on Monday, March 17th. Evercore ISI upped their price objective on Tesla from $195.00 to $275.00 and gave the company an "in-line" rating in a research note on Friday, January 3rd. Finally, HSBC decreased their target price on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. Eight equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $305.31.

Tesla Price Performance

NASDAQ TSLA traded down $6.14 on Monday, reaching $233.29. The company's stock had a trading volume of 181,900,757 shares, compared to its average volume of 94,625,450. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The stock has a market cap of $750.38 billion, a PE ratio of 114.36, a PEG ratio of 5.86 and a beta of 2.58. The firm's 50 day moving average is $305.98 and its two-hundred day moving average is $324.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

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, sell-side analysts predict 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.