Strategic Financial Concepts LLC Has $3.50 Billion Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Strategic Financial Concepts LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 36,790.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,660,672 shares of the electric vehicle producer’s stock after buying an additional 8,637,195 shares during the period. Tesla accounts for approximately 6.7% of Strategic Financial Concepts LLC’s holdings, making the stock its 2nd biggest position. Strategic Financial Concepts LLC owned about 0.27% of Tesla worth $3,497,526,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TSLA. International Assets Investment Management LLC boosted its holdings in Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Tesla by 194.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after purchasing an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Wellington Management Group LLP boosted its holdings in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Down 3.0 %

Shares of NASDAQ TSLA opened at $350.73 on Tuesday. The firm has a market capitalization of $1.13 trillion, a PE ratio of 171.93, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 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 firm’s 50-day moving average is $408.27 and its 200-day moving average is $304.55.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts expect that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 635,776 shares of company stock valued at $231,335,112 in the last 90 days. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on TSLA shares. Canaccord Genuity Group increased their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com cut shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. The Goldman Sachs Group increased their price objective on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Truist Financial increased their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $321.71.

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.