Iron Gate Global Advisors LLC Buys 113 Shares of Tesla, Inc. (NASDAQ:TSLA)

Iron Gate Global Advisors LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,944 shares of the electric vehicle producer’s stock after purchasing an additional 113 shares during the period. Iron Gate Global Advisors LLC’s holdings in Tesla were worth $785,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in TSLA. Vanguard Group Inc. lifted its holdings in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank purchased a new stake in shares of Tesla during the 4th quarter valued at approximately $14,420,248,000. FMR LLC boosted its holdings in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after buying an additional 780,026 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This represents a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 374,228 shares of company stock valued at $123,791,123 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 12th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Wells Fargo & Company decreased their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Stifel Nicolaus cut their price objective on shares of Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, Piper Sandler decreased their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $298.59.

Tesla Price Performance

TSLA opened at $254.11 on Wednesday. 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 $817.35 billion, a price-to-earnings ratio of 124.56, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $280.27 and a two-hundred day simple moving average of $323.03.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.