Gradient Investments LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Gradient Investments LLC grew its position in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 97.7% during the 4th quarter, HoldingsChannel reports. The fund owned 6,609 shares of the electric vehicle producer’s stock after purchasing an additional 3,266 shares during the period. Gradient Investments LLC’s holdings in Tesla were worth $814,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Cranbrook Wealth Management LLC grew its holdings in shares of Tesla by 224.1% in the third quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 65 shares during the last quarter. Coston McIsaac & Partners grew its holdings in shares of Tesla by 200.0% in the third quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 64 shares during the last quarter. West Oak Capital LLC bought a new position in shares of Tesla in the third quarter worth about $27,000. Alpha Paradigm Partners LLC bought a new position in shares of Tesla in the third quarter worth about $27,000. Finally, Norway Savings Bank grew its holdings in shares of Tesla by 200.0% in the third quarter. Norway Savings Bank now owns 105 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 43.00% of the company’s stock.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 1,298 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $195.79, for a total transaction of $254,135.42. Following the sale, the senior vice president now owns 65,547 shares of the company’s stock, valued at approximately $12,833,447.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Vaibhav Taneja sold 2,466 shares of Tesla stock in a transaction on Monday, March 6th. The shares were sold at an average price of $195.79, for a total value of $482,818.14. Following the sale, the chief accounting officer now owns 100,458 shares of the company’s stock, valued at approximately $19,668,671.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 1,298 shares of Tesla stock in a transaction on Monday, March 6th. The shares were sold at an average price of $195.79, for a total transaction of $254,135.42. Following the completion of the sale, the senior vice president now directly owns 65,547 shares in the company, valued at approximately $12,833,447.13. The disclosure for this sale can be found here. Insiders have sold 53,221 shares of company stock valued at $8,988,542 in the last 90 days. 25.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on TSLA shares. Morgan Stanley dropped their target price on shares of Tesla from $250.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, January 25th. Royal Bank of Canada increased their target price on shares of Tesla from $186.00 to $223.00 and gave the stock an “outperform” rating in a report on Monday, February 6th. Canaccord Genuity Group dropped their target price on shares of Tesla from $304.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, December 22nd. Mizuho dropped their target price on shares of Tesla from $285.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, January 5th. Finally, Guggenheim cut shares of Tesla from a “neutral” rating to a “sell” rating in a report on Friday, January 13th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $221.39.

Tesla Stock Performance

TSLA opened at $180.13 on Friday. The firm has a market capitalization of $569.95 billion, a PE ratio of 49.71, a P/E/G ratio of 2.19 and a beta of 2.06. Tesla, Inc. has a 12-month low of $101.81 and a 12-month high of $384.29. The firm has a 50 day moving average of $175.38 and a two-hundred day moving average of $197.07. The company has a current ratio of 1.53, a quick ratio of 1.05 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The electric vehicle producer reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. The business had revenue of $24.32 billion for the quarter, compared to analysts’ expectations of $24.26 billion. Tesla had a net margin of 15.41% and a return on equity of 31.71%. The business’s revenue was up 37.2% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. On average, analysts anticipate that Tesla, Inc. will post 3.43 EPS for the current year.

Tesla Profile

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.