Forbes J M & Co. LLP Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Forbes J M & Co. LLP boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,684 shares of the electric vehicle producer’s stock after purchasing an additional 56 shares during the quarter. Forbes J M & Co. LLP’s holdings in Tesla were worth $5,526,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TSLA. Wedge Capital Management L L P NC lifted its position in Tesla by 18.2% during the third quarter. Wedge Capital Management L L P NC now owns 2,489 shares of the electric vehicle producer’s stock valued at $651,000 after acquiring an additional 384 shares during the last quarter. Creative Planning increased its stake in shares of Tesla by 28.3% in the third quarter. Creative Planning now owns 896,484 shares of the electric vehicle producer’s stock worth $221,677,000 after acquiring an additional 197,839 shares during the period. Swedbank AB grew its position in Tesla by 2.8% during the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the period. Petredis Investment Advisors LLC grew its position in shares of Tesla by 4.0% in the third quarter. Petredis Investment Advisors LLC now owns 36,056 shares of the electric vehicle producer’s stock valued at $9,433,000 after purchasing an additional 1,380 shares during the period. Finally, First United Bank & Trust grew its position in shares of Tesla by 222.3% in the third quarter. First United Bank & Trust now owns 1,776 shares of the electric vehicle producer’s stock valued at $465,000 after purchasing an additional 1,225 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on TSLA shares. Piper Sandler lifted their target price on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a report on Monday. Mizuho reiterated an “outperform” rating and set a $515.00 price target on shares of Tesla in a report on Thursday, January 30th. Benchmark started coverage on shares of Tesla in a research report on Wednesday. They set a “buy” rating and a $475.00 price objective for the company. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $326.50.

Tesla Stock Performance

TSLA stock opened at $336.51 on Thursday. The company has a market capitalization of $1.08 trillion, a P/E ratio of 164.96, a PEG ratio of 6.22 and a beta of 2.34. The company has a 50-day simple moving average of $407.68 and a 200 day simple moving average of $306.23. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

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

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $30,095,100. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 635,776 shares of company stock valued at $231,335,112. 20.70% of the stock is owned by insiders.

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.