Tesla, Inc. (NASDAQ:TSLA) is Geode Capital Management LLC’s 7th Largest Position

Geode Capital Management LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 61,011,604 shares of the electric vehicle producer’s stock after purchasing an additional 1,655,203 shares during the period. Tesla accounts for approximately 1.9% of Geode Capital Management LLC’s portfolio, making the stock its 7th biggest holding. Geode Capital Management LLC’s holdings in Tesla were worth $24,566,217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. boosted its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the fourth quarter valued at about $38,000. Delos Wealth Advisors LLC increased its holdings in shares of Tesla by 300.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after buying an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new stake in Tesla during the fourth quarter worth $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 1.7 %

Shares of NASDAQ TSLA opened at $259.16 on Tuesday. The stock has a market cap of $833.59 billion, a PE ratio of 127.04, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The business has a 50-day moving average price of $317.98 and a 200 day moving average price of $323.21. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

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 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%. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent analyst reports. Benchmark began coverage on shares of Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Piper Sandler lowered their price target on Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a report on Friday. Nine investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $317.75.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. The trade was a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,228 shares of company stock valued at $166,849,043. Insiders own 20.70% 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, 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.