Great Lakes Retirement Inc. Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Great Lakes Retirement Inc. bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 720 shares of the electric vehicle producer’s stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Creative Planning boosted its position 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 buying an additional 197,839 shares during the period. Swedbank AB lifted its position in Tesla by 2.8% during the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after acquiring an additional 29,669 shares in the last quarter. Marshall Financial Group LLC boosted its holdings in Tesla by 3.7% in the 3rd quarter. Marshall Financial Group LLC now owns 2,546 shares of the electric vehicle producer’s stock worth $666,000 after acquiring an additional 92 shares during the period. AlphaMark Advisors LLC grew its position in Tesla by 15.4% in the third quarter. AlphaMark Advisors LLC now owns 1,095 shares of the electric vehicle producer’s stock valued at $286,000 after acquiring an additional 146 shares in the last quarter. Finally, Bar Harbor Wealth Management purchased a new stake in shares of Tesla during the third quarter valued at approximately $238,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $355.84 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a market cap of $1.14 trillion, a PE ratio of 174.43, a P/E/G ratio of 6.22 and a beta of 2.34. The stock has a 50 day simple moving average of $406.31 and a 200-day simple moving average of $307.64. 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) last announced its quarterly 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%. On average, equities research analysts forecast that Tesla, Inc. will post 2.54 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on 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 completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock worth $195,995,200 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSLA. UBS Group raised their price target on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a report on Thursday, January 30th. Wedbush lifted their target price on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Wednesday. Canaccord Genuity Group lifted their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $326.50.

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.