Alliancebernstein L.P. Purchases 64,674 Shares of Tesla, Inc. (NASDAQ:TSLA)

Alliancebernstein L.P. raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,197,299 shares of the electric vehicle producer's stock after acquiring an additional 64,674 shares during the quarter. Alliancebernstein L.P. owned about 0.10% of Tesla worth $1,291,197,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Horrell Capital Management Inc. lifted its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. lifted its position in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust acquired a new stake in Tesla during the fourth quarter worth $38,000. Delos Wealth Advisors LLC raised its stake in shares of Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer's stock valued at $40,000 after buying an additional 75 shares in the last quarter. Finally, Cyrus J. Lawrence LLC bought a new position in shares of Tesla during the 4th quarter worth approximately $44,000. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley reduced their price target on shares of Tesla from $430.00 to $410.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. StockNews.com lowered Tesla from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their target price on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday. Mizuho cut their price target on Tesla from $515.00 to $430.00 and set an "outperform" rating on the stock in a report on Monday, March 17th. Finally, New Street Research raised shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $317.75.

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Tesla Price Performance

Shares of NASDAQ:TSLA traded up $9.30 during trading on Tuesday, hitting $268.46. 145,757,545 shares of the company were exchanged, compared to its average volume of 93,639,188. 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 1-year low of $138.80 and a 1-year high of $488.54. The company has a market capitalization of $863.51 billion, a P/E ratio of 131.60, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The business's 50 day moving average is $317.98 and its 200-day moving average is $323.21.

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 for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company's stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by company 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.