Sterling Capital Management LLC Has $60.39 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sterling Capital Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,548 shares of the electric vehicle producer's stock after acquiring an additional 6,547 shares during the quarter. Sterling Capital Management LLC's holdings in Tesla were worth $60,393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TSLA. Destination Wealth Management lifted its stake in Tesla by 12.1% in the 3rd 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 in the last quarter. Stephens Consulting LLC lifted its position in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after acquiring an additional 891 shares in the last quarter. Worth Asset Management LLC boosted its stake in shares of Tesla by 383.1% during the fourth quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock valued at $3,358,000 after acquiring an additional 6,593 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. increased its position in Tesla by 133.7% during 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 raised its stake in Tesla by 104.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 57,553 shares of the electric vehicle producer's stock valued at $23,242,000 after purchasing an additional 29,458 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

Shares of Tesla stock traded down $0.18 during trading hours on Tuesday, reaching $252.17. The company's stock had a trading volume of 57,153,860 shares, compared to its average volume of 95,872,673. 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, Inc. has a one year low of $138.80 and a one year high of $488.54. The company's 50 day simple moving average is $282.67 and its 200 day simple moving average is $323.51. The stock has a market cap of $811.11 billion, a P/E ratio of 123.61, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS 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%. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TSLA. Barclays boosted their price objective on shares of Tesla from $270.00 to $325.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 15th. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and increased their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $404.00 price objective on shares of Tesla in a research report on Monday, March 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $425.00 target price on shares of Tesla in a research report on Thursday, April 3rd. Finally, Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of "Hold" and an average price target of $298.59.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction dated 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 owns 85,000 shares of the company's stock, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock valued at $123,791,123 in the last quarter. Corporate insiders own 20.70% of the company's stock.

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.