IPG Investment Advisors LLC Increases Position in Tesla, Inc. (NASDAQ:TSLA)

IPG Investment Advisors LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,449 shares of the electric vehicle producer’s stock after acquiring an additional 2,439 shares during the period. Tesla makes up about 2.2% of IPG Investment Advisors LLC’s investment portfolio, making the stock its 12th largest position. IPG Investment Advisors LLC’s holdings in Tesla were worth $9,873,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. raised its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. lifted its position in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. CoreFirst Bank & Trust purchased a new stake in Tesla in 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 acquired a new stake in shares of Tesla in the 4th quarter valued at approximately $46,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 3.5 %

Shares of NASDAQ:TSLA opened at $263.55 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock’s 50-day moving average price is $321.33 and its two-hundred day moving average price is $322.34. 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 market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. On average, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on TSLA shares. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Cantor Fitzgerald raised shares of Tesla from a “neutral” rating to an “overweight” rating and set a $425.00 price target on the stock in a research note on Wednesday, March 19th. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and raised their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Wells Fargo & Company lowered their target price on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Finally, Evercore ISI increased 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. Nine investment 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’s stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $318.34.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by company insiders.

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.