Sei Investments Co. Acquires 203,370 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sei Investments Co. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,035,288 shares of the electric vehicle producer’s stock after buying an additional 203,370 shares during the period. Tesla comprises approximately 0.5% of Sei Investments Co.’s holdings, making the stock its 28th largest holding. Sei Investments Co.’s holdings in Tesla were worth $418,092,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GS Investments Inc. increased its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the period. Cyrus J. Lawrence LLC purchased a new position in Tesla in the fourth quarter valued at about $44,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Tesla in the fourth quarter valued at about $46,000. Parkworth Wealth Management Inc. purchased a new position in Tesla in the fourth quarter valued at about $47,000. Finally, PayPay Securities Corp grew its stake in Tesla by 130.2% in the fourth quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 in the last three months. 20.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank of Canada lowered their price target on Tesla from $440.00 to $320.00 and set an “outperform” rating for the company in a report on Tuesday. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Cowen raised Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Evercore ISI lifted their target price on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Finally, Benchmark started coverage on Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Nine equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $318.93.

Tesla Stock Up 5.3 %

Shares of NASDAQ:TSLA opened at $248.71 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $335.19 and a two-hundred day moving average of $319.68. The stock has a market cap of $799.98 billion, a P/E ratio of 121.92, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

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%. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.