Fmr LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

Fmr LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 40.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,661,400 shares of the electric vehicle producer’s stock after buying an additional 9,920,325 shares during the period. Tesla comprises 0.8% of Fmr LLC’s portfolio, making the stock its 17th largest holding. Fmr LLC’s holdings in Tesla were worth $13,997,660,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TSLA. Westwood Wealth Management increased its stake in shares of Tesla by 1,334.1% in the 4th quarter. Westwood Wealth Management now owns 15,560 shares of the electric vehicle producer’s stock worth $6,284,000 after purchasing an additional 14,475 shares in the last quarter. Unigestion Holding SA raised its stake in shares of Tesla by 74.1% in the fourth quarter. Unigestion Holding SA now owns 4,698 shares of the electric vehicle producer’s stock worth $1,897,000 after buying an additional 2,000 shares during the period. Federated Hermes Inc. lifted its position in shares of Tesla by 205.3% during the 4th quarter. Federated Hermes Inc. now owns 317,650 shares of the electric vehicle producer’s stock valued at $128,280,000 after buying an additional 213,613 shares in the last quarter. Clarkston Capital Partners LLC bought a new position in shares of Tesla during the 4th quarter valued at approximately $1,242,000. Finally, Waterloo Capital L.P. increased its holdings in Tesla by 7.8% in the 4th quarter. Waterloo Capital L.P. now owns 10,984 shares of the electric vehicle producer’s stock worth $4,436,000 after acquiring an additional 795 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Down 10.4 %

Shares of TSLA opened at $239.43 on Friday. The firm has a market capitalization of $770.13 billion, a P/E ratio of 117.37, a P/E/G ratio of 5.86 and a beta of 2.58. The firm has a fifty day moving average price of $305.98 and a 200-day moving average price of $323.56. 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.

Tesla (NASDAQ:TSLA – Get Free Report) last posted 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 research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $32,643,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,228 shares of company stock worth $166,849,043. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group decreased their price target on Tesla from $320.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Glj Research reissued a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $425.00 price objective on shares of Tesla in a report 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $312.65.

Read Our Latest Analysis on TSLA

Tesla Company Profile

(Free Report)

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.

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