Victory Capital Management Inc. Has $590.07 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Victory Capital Management Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,374,719 shares of the electric vehicle producer’s stock after purchasing an additional 108,055 shares during the quarter. Tesla makes up approximately 0.6% of Victory Capital Management Inc.’s portfolio, making the stock its 9th biggest holding. Victory Capital Management Inc. owned 0.07% of Tesla worth $590,070,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vicus Capital lifted its position in shares of Tesla by 50.6% during the 3rd quarter. Vicus Capital now owns 1,676 shares of the electric vehicle producer’s stock valued at $419,000 after buying an additional 563 shares during the last quarter. First Pacific Financial bought a new stake in Tesla in the 3rd quarter valued at about $81,000. Callahan Advisors LLC lifted its holdings in Tesla by 10.0% during the third quarter. Callahan Advisors LLC now owns 1,375 shares of the electric vehicle producer’s stock valued at $344,000 after purchasing an additional 125 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in Tesla by 0.4% during the third quarter. Maryland State Retirement & Pension System now owns 212,230 shares of the electric vehicle producer’s stock worth $53,104,000 after purchasing an additional 935 shares during the period. Finally, Dakota Wealth Management increased its stake in shares of Tesla by 20.1% in the third quarter. Dakota Wealth Management now owns 12,233 shares of the electric vehicle producer’s stock worth $3,061,000 after purchasing an additional 2,045 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 1.3 %

Shares of Tesla stock traded down $2.40 during trading on Wednesday, reaching $180.88. The company’s stock had a trading volume of 52,343,043 shares, compared to its average volume of 104,679,563. The company has a market cap of $576.86 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 5.28 and a beta of 2.39. The firm’s 50-day moving average is $174.71 and its two-hundred day moving average is $206.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at approximately $11,188,215.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock valued at $38,802,534 over the last three months. Insiders own 20.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TSLA shares. Daiwa Capital Markets downgraded shares of Tesla from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a report on Wednesday, April 24th. Canaccord Genuity Group dropped their price objective on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Wednesday, April 24th. Finally, UBS Group lowered their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $184.32.

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.