Define Financial LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 709 shares of the electric vehicle producer’s stock, valued at approximately $286,000. Tesla makes up about 0.2% of Define Financial LLC’s investment portfolio, making the stock its 23rd largest position.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bradley Foster & Sargent Inc. CT raised its stake in Tesla by 36.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 2,797 shares of the electric vehicle producer’s stock valued at $554,000 after purchasing an additional 747 shares during the last quarter. RPg Family Wealth Advisory LLC increased its holdings in shares of Tesla by 5.9% during the 2nd quarter. RPg Family Wealth Advisory LLC now owns 2,766 shares of the electric vehicle producer’s stock worth $547,000 after purchasing an additional 155 shares during the period. Meridian Wealth Partners LLC lifted its stake in shares of Tesla by 2.0% in the second quarter. Meridian Wealth Partners LLC now owns 2,915 shares of the electric vehicle producer’s stock valued at $577,000 after buying an additional 57 shares during the period. Lingotto Investment Management LLP grew its position in Tesla by 86.5% during the second quarter. Lingotto Investment Management LLP now owns 75,461 shares of the electric vehicle producer’s stock worth $14,932,000 after buying an additional 35,000 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Tesla by 14.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 314,477 shares of the electric vehicle producer’s stock valued at $62,297,000 after acquiring an additional 39,664 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.
Insider Transactions at Tesla
In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 621,886 shares of company stock valued at $213,451,751 over the last three months. 20.70% of the stock is currently owned by corporate insiders.
Tesla Stock Up 8.0 %
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. Research analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Mizuho upgraded Tesla from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $230.00 to $515.00 in a research report on Tuesday, December 17th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Wells Fargo & Company lifted their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group increased their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Nine investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $299.33.
View Our Latest Stock Report on TSLA
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.
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