Sei Investments Co. Acquires 203,370 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sei Investments Co. boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,035,288 shares of the electric vehicle producer's stock after purchasing an additional 203,370 shares during the period. Tesla comprises 0.5% of Sei Investments Co.'s investment portfolio, making the stock its 28th largest position. Sei Investments Co.'s holdings in Tesla were worth $418,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Swedbank AB raised its holdings in Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer's stock valued at $287,457,000 after buying an additional 29,669 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Tesla by 5.6% in 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 acquiring an additional 194,796 shares during the period. United Bank bought a new position in shares of Tesla during the third quarter valued at about $287,000. Advisors Asset Management Inc. boosted its holdings in shares of Tesla by 0.9% during the third quarter. Advisors Asset Management Inc. now owns 8,972 shares of the electric vehicle producer's stock worth $2,347,000 after purchasing an additional 80 shares during the period. Finally, Citizens Financial Group Inc. RI grew its stake in shares of Tesla by 4.0% in the third quarter. Citizens Financial Group Inc. RI now owns 26,577 shares of the electric vehicle producer's stock worth $6,953,000 after purchasing an additional 1,034 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on TSLA shares. Cowen raised Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Royal Bank of Canada decreased their target price on Tesla from $440.00 to $320.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Benchmark assumed coverage on shares of Tesla in a report on Wednesday, February 12th. They issued a "buy" rating and a $475.00 price target on the stock. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and upped their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Nine equities research 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $318.93.

Tesla Stock Up 3.4 %

NASDAQ TSLA traded up $9.56 during mid-day trading on Tuesday, reaching $287.95. The stock had a trading volume of 148,758,365 shares, compared to its average volume of 91,569,636. The stock has a market cap of $926.20 billion, a PE ratio of 141.15, 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. The company has a fifty day moving average price of $332.69 and a 200 day moving average price of $321.49.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 return on equity of 10.31% and a net margin of 7.26%. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In related news, Director James R. Murdoch sold 54,776 shares of the stock in a transaction that occurred 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 transaction, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was 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 of the company's stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock valued at $166,849,043 in the last 90 days. 20.70% of the stock is currently owned by insiders.

Tesla 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.