Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 14.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,219 shares of the electric vehicle producer’s stock after purchasing an additional 52,394 shares during the period. Tesla comprises 1.7% of QRG Capital Management Inc.’s investment portfolio, making the stock its 9th biggest position. QRG Capital Management Inc.’s holdings in Tesla were worth $164,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter worth $29,000. Peterson Financial Group Inc. purchased a new stake in Tesla during the 3rd quarter worth about $35,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Tesla during the 4th quarter worth about $46,000. PayPay Securities Corp increased its holdings in shares of Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares during the last quarter. Finally, Finley Financial LLC acquired a new stake in shares of Tesla during the 4th quarter worth about $64,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their price target on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a report on Monday, February 10th. Evercore ISI upped their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Benchmark initiated coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective for the company. Finally, Piper Sandler lifted their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $318.77.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $293.33 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The firm has a market capitalization of $943.49 billion, a P/E ratio of 143.79, a PEG ratio of 5.86 and a beta of 2.34. The company’s fifty day moving average is $385.35 and its two-hundred day moving average is $316.70.

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

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock valued at $195,995,200 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

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.