DAVENPORT & Co LLC Purchases 1,230 Shares of Tesla, Inc. (NASDAQ:TSLA)


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DAVENPORT & Co LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,637 shares of the electric vehicle producer’s stock after buying an additional 1,230 shares during the quarter. DAVENPORT & Co LLC’s holdings in Tesla were worth $7,506,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC lifted its stake in Tesla by 384.5% in the third quarter. Jennison Associates LLC now owns 18,743,418 shares of the electric vehicle producer’s stock worth $8,041,114,000 after acquiring an additional 14,874,676 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Tesla by 267.9% in the 3rd quarter. Nuveen Asset Management LLC now owns 5,278,127 shares of the electric vehicle producer’s stock worth $2,264,369,000 after purchasing an additional 3,843,488 shares during the period. ARK Investment Management LLC boosted its stake in shares of Tesla by 381.6% during the third quarter. ARK Investment Management LLC now owns 3,430,778 shares of the electric vehicle producer’s stock valued at $1,471,838,000 after purchasing an additional 2,718,430 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Tesla by 437.8% during the third quarter. UBS Asset Management Americas Inc. now owns 2,973,414 shares of the electric vehicle producer’s stock valued at $1,275,624,000 after purchasing an additional 2,420,573 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Tesla by 395.0% during the third quarter. Swiss National Bank now owns 2,887,865 shares of the electric vehicle producer’s stock valued at $1,238,923,000 after buying an additional 2,304,512 shares during the period. Hedge funds and other institutional investors own 48.22% of the company’s stock.

Shares of NASDAQ TSLA traded down $0.67 during trading on Wednesday, reaching $848.77. 930,278 shares of the company traded hands, compared to its average volume of 51,110,836. The stock has a market cap of $804.55 billion, a P/E ratio of 2,197.06, a PEG ratio of 20.46 and a beta of 1.68. The firm’s fifty day simple moving average is $665.84 and its 200 day simple moving average is $447.94. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.98. Tesla, Inc. has a 12-month low of $70.10 and a 12-month high of $884.49.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.76 EPS for the quarter, topping the consensus estimate of $0.22 by $0.54. Tesla had a return on equity of 4.19% and a net margin of 1.43%. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the company earned $0.37 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 0.62 EPS for the current year.

Several brokerages have issued reports on TSLA. Cfra cut Tesla from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 18th. Canaccord Genuity raised their price objective on Tesla from $377.00 to $419.00 and gave the company a “hold” rating in a research report on Thursday, October 22nd. Oppenheimer boosted their target price on shares of Tesla from $451.00 to $486.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Zacks Investment Research raised shares of Tesla from a “hold” rating to a “strong-buy” rating and set a $747.00 price target for the company in a research report on Tuesday, December 22nd. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on shares of Tesla from $117.00 to $137.00 and gave the stock a “sell” rating in a research report on Tuesday, October 27th. Twelve analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $325.36.

In other news, CAO Vaibhav Taneja sold 4,463 shares of the stock in a transaction dated Wednesday, January 6th. The shares were sold at an average price of $762.99, for a total transaction of $3,405,224.37. Following the sale, the chief accounting officer now directly owns 16,728 shares of the company’s stock, valued at approximately $12,763,296.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 1,100 shares of Tesla stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $420.00, for a total value of $462,000.00. Following the completion of the transaction, the senior vice president now owns 20,437 shares of the company’s stock, valued at approximately $8,583,540. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,643 shares of company stock valued at $92,195,056. Insiders own 23.00% of the company’s stock.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive; and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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