Charles Schwab Investment Management Inc. Buys 458,804 Shares of Tesla, Inc. (NASDAQ:TSLA)

Charles Schwab Investment Management Inc. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,155,878 shares of the electric vehicle producer’s stock after acquiring an additional 458,804 shares during the quarter. Tesla comprises about 1.0% of Charles Schwab Investment Management Inc.’s holdings, making the stock its 13th biggest holding. Charles Schwab Investment Management Inc. owned 0.48% of Tesla worth $3,765,933,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TSLA. Holderness Investments Co. increased its holdings in Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after buying an additional 42 shares during the last quarter. SCS Capital Management LLC raised its holdings in Tesla by 0.3% in the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after purchasing an additional 45 shares during the period. Daymark Wealth Partners LLC lifted its position in Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares in the last quarter. ML & R Wealth Management LLC increased its position in Tesla by 2.6% in the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock worth $455,000 after buying an additional 46 shares in the last quarter. Finally, LCM Capital Management Inc raised its stake in shares of Tesla by 3.5% in the third quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock worth $344,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several analyst reports. KGI Securities reissued a “neutral” rating and issued a $213.00 target price (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. China Renaissance began coverage on Tesla in a research note on Monday, February 26th. They issued a “hold” rating for the company. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Wednesday, April 24th. Truist Financial lowered their target price on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla 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 nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $185.90.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Xiaotong Zhu sold 687 shares of Tesla 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 completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred 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 transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 302,803 shares of company stock worth $56,124,840. Corporate insiders own 20.90% of the company’s stock.

Tesla Stock Down 1.7 %

Shares of NASDAQ:TSLA traded down $3.04 on Wednesday, reaching $174.77. The company had a trading volume of 57,309,344 shares, compared to its average volume of 103,569,102. The firm’s 50 day simple moving average is $173.12 and its 200-day simple moving average is $204.32. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $557.38 billion, a PE ratio of 44.50, a PEG ratio of 4.74 and a beta of 2.41.

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.