Fmr LLC Buys 9,920,325 Shares of Tesla, Inc. (NASDAQ:TSLA)

Fmr LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 40.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,661,400 shares of the electric vehicle producer’s stock after acquiring an additional 9,920,325 shares during the period. Tesla accounts for about 0.8% of Fmr LLC’s holdings, making the stock its 17th biggest position. Fmr LLC owned 1.08% of Tesla worth $13,997,660,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Horrell Capital Management Inc. increased its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in shares of Tesla during the fourth quarter worth about $38,000. Delos Wealth Advisors LLC lifted its position in Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after purchasing an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC bought a new position in shares of Tesla in the 4th quarter worth $44,000. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TSLA. Benchmark began coverage on shares of Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price for the company. Guggenheim reduced their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research report on Wednesday, March 12th. Oppenheimer restated a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Truist Financial reduced their price target on shares of Tesla from $373.00 to $280.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group decreased their price target on shares of Tesla from $320.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday. Eight research 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $312.65.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. This represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 10.4 %

Tesla stock opened at $239.43 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The business’s fifty day simple moving average is $305.98 and its two-hundred day simple moving average is $323.56. The company has a market capitalization of $770.13 billion, a price-to-earnings ratio of 117.37, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.