New York Life Investment Management LLC Has $167.90 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

New York Life Investment Management LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 415,761 shares of the electric vehicle producer’s stock after purchasing an additional 3,478 shares during the period. Tesla makes up 1.6% of New York Life Investment Management LLC’s portfolio, making the stock its 10th largest position. New York Life Investment Management LLC’s holdings in Tesla were worth $167,901,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new stake in Tesla in the third quarter worth $29,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Tesla in the fourth quarter valued at about $46,000. PayPay Securities Corp increased its position in shares of Tesla by 130.2% in the fourth 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 period. Peterson Financial Group Inc. purchased a new position in shares of Tesla in the third quarter valued at about $35,000. Finally, Finley Financial LLC purchased a new position in shares of Tesla in the fourth quarter valued at about $64,000. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 523,386 shares of company stock worth $195,995,200 over the last quarter. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TSLA shares. Piper Sandler boosted their price objective on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Truist Financial boosted their price objective on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Canaccord Genuity Group boosted their price target on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Barclays boosted their price target on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Ten investment analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $318.77.

Tesla Trading Up 4.0 %

Shares of NASDAQ TSLA opened at $293.33 on Friday. The firm’s 50 day moving average price is $385.35 and its 200-day moving average price is $315.95. The company has a market cap of $943.49 billion, a PE ratio of 143.79, a P/E/G ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. 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 (NASDAQ:TSLA) last issued its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. On average, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.