Tesla, Inc. (NASDAQ:TSLA) Shares Bought by RiverFront Investment Group LLC

RiverFront Investment Group LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 236.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,489 shares of the electric vehicle producer's stock after purchasing an additional 8,072 shares during the quarter. RiverFront Investment Group LLC's holdings in Tesla were worth $4,640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Level Four Advisory Services LLC boosted its stake in Tesla by 2.1% in the fourth quarter. Level Four Advisory Services LLC now owns 23,097 shares of the electric vehicle producer's stock valued at $9,327,000 after acquiring an additional 470 shares in the last quarter. NBZ Investment Advisors LLC acquired a new stake in shares of Tesla in the 4th quarter valued at about $503,000. Vertex Planning Partners LLC purchased a new position in Tesla during the 4th quarter worth approximately $347,000. Slagle Financial LLC acquired a new position in Tesla during the fourth quarter worth approximately $313,000. Finally, denkapparat Operations GmbH purchased a new stake in Tesla in the fourth quarter valued at approximately $307,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TSLA shares. Barclays raised their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $135.00 to $120.00 and set an "underweight" rating on the stock in a research note on Wednesday, March 12th. UBS Group decreased their target price on shares of Tesla from $259.00 to $225.00 and set a "sell" rating for the company in a research note on Monday, March 10th. Piper Sandler dropped their price target on Tesla from $500.00 to $450.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. Finally, Robert W. Baird decreased their price objective on Tesla from $440.00 to $370.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Nine investment 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $317.75.

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Tesla Price Performance

Shares of NASDAQ TSLA traded up $17.16 on Tuesday, hitting $276.32. The company's stock had a trading volume of 70,865,224 shares, compared to its average volume of 96,377,461. 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 stock has a 50 day moving average of $317.98 and a 200-day moving average of $323.21. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market capitalization of $888.78 billion, a price-to-earnings ratio of 135.18, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, 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 sale, the director now directly owns 85,000 shares of the company's stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 54,776 shares of the business's 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 completion of the transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This represents a 10.30 % 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 over the last quarter. Insiders own 20.70% of the company's stock.

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.