Atlas Brown Inc. Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Atlas Brown Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,702 shares of the electric vehicle producer’s stock after purchasing an additional 76 shares during the period. Atlas Brown Inc.’s holdings in Tesla were worth $1,091,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after acquiring an additional 1,022,589 shares during the period. FMR LLC lifted its stake in shares of Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after purchasing an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on TSLA shares. Piper Sandler increased their price objective on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Stifel Nicolaus lifted their price objective on shares of Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research note on Monday. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Canaccord Genuity Group lifted their target price on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Mizuho upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $230.00 to $515.00 in a research report on Tuesday, December 17th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $295.69.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on 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 directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA traded down $0.75 during mid-day trading on Friday, hitting $394.19. The stock had a trading volume of 56,994,052 shares, compared to its average volume of 82,196,984. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 108.00, a PEG ratio of 10.80 and a beta of 2.30. The firm’s 50 day moving average is $373.68 and its 200 day moving average is $279.12. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. Equities research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal 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.