Worth Asset Management LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Worth Asset Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 383.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,314 shares of the electric vehicle producer's stock after acquiring an additional 6,593 shares during the period. Tesla comprises about 1.8% of Worth Asset Management LLC's holdings, making the stock its 9th largest holding. Worth Asset Management LLC's holdings in Tesla were worth $3,358,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. World Investment Advisors LLC raised its position in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock valued at $52,124,000 after acquiring an additional 184,459 shares in the last quarter. Destination Wealth Management increased its stake in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer's stock worth $3,296,000 after purchasing an additional 1,359 shares during the last quarter. Vinva Investment Management Ltd raised its holdings in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock valued at $30,593,000 after purchasing an additional 43,685 shares in the last quarter. MML Investors Services LLC lifted its stake in shares of Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock valued at $80,944,000 after purchasing an additional 9,919 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer's stock worth $37,801,000 after purchasing an additional 1,741 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company's stock, valued at approximately $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 514,886 shares of company stock valued at $169,393,831. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Up 0.1 %

Shares of NASDAQ TSLA traded up $0.58 during midday trading on Wednesday, reaching $394.94. 72,821,968 shares of the stock were exchanged, compared to its average volume of 87,822,344. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.20, a P/E/G ratio of 10.80 and a beta of 2.30. The business has a 50-day simple moving average of $368.03 and a two-hundred day simple moving average of $277.49.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analysts' expectations of $25.47 billion. During the same quarter in the previous year, the business posted $0.53 EPS. Tesla's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent analyst reports. 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. Piper Sandler upped their target price on Tesla from $310.00 to $315.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Roth Mkm upgraded shares of Tesla from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. Oppenheimer restated a "market perform" rating on shares of Tesla in a research note on Tuesday, October 8th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $400.00 price target on shares of Tesla in a research note on Monday, November 18th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $295.69.

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.