Great Lakes Advisors LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Great Lakes Advisors LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.3% during the fourth quarter, HoldingsChannel reports. The firm owned 23,189 shares of the electric vehicle producer’s stock after purchasing an additional 1,162 shares during the quarter. Great Lakes Advisors LLC’s holdings in Tesla were worth $9,365,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. World Investment Advisors LLC raised its position in shares of Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares during the period. Destination Wealth Management raised its position in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock worth $3,296,000 after buying an additional 1,359 shares during the period. Stephens Consulting LLC raised its position in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after buying an additional 891 shares during the period. Vinva Investment Management Ltd raised its position in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares during the period. Finally, MML Investors Services LLC raised its position 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 worth $80,944,000 after buying an additional 9,919 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Jefferies Financial Group increased their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Truist Financial increased their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Evercore ISI increased their price target on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $325.81.

Tesla Stock Up 7.6 %

NASDAQ:TSLA opened at $248.09 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a 50-day simple moving average of $357.29 and a 200 day simple moving average of $319.03. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market capitalization of $797.99 billion, a price-to-earnings ratio of 121.61, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

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 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%. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

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

About Tesla

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.