NEOS Investment Management LLC Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

NEOS Investment Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,926 shares of the electric vehicle producer’s stock after purchasing an additional 27,780 shares during the period. Tesla accounts for about 2.3% of NEOS Investment Management LLC’s holdings, making the stock its 8th largest holding. NEOS Investment Management LLC’s holdings in Tesla were worth $99,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Horrell Capital Management Inc. lifted its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. lifted its holdings in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares during the period. CoreFirst Bank & Trust bought a new stake in Tesla during the 4th quarter valued at approximately $38,000. Cyrus J. Lawrence LLC purchased a new position in shares of Tesla during the 4th quarter worth approximately $44,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Cantor Fitzgerald raised Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price objective for the company in a research report on Wednesday, March 19th. Benchmark assumed coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Evercore ISI boosted their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Finally, Bank of America reduced their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $318.93.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock valued at $166,849,043 in the last quarter. 20.70% of the stock is owned by insiders.

Tesla Price Performance

Tesla stock opened at $272.06 on Thursday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. 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 firm has a 50-day moving average price of $327.40 and a 200-day moving average price of $321.69. The firm has a market capitalization of $875.09 billion, a PE ratio of 133.36, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.