Custos Family Office LLC Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Custos Family Office LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,987 shares of the electric vehicle producer’s stock after acquiring an additional 117 shares during the quarter. Custos Family Office LLC’s holdings in Tesla were worth $1,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB grew its stake in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after acquiring an additional 29,669 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares during the last quarter. United Bank purchased a new position in shares of Tesla during the 3rd quarter worth approximately $287,000. Chesapeake Capital Corp IL acquired a new position in shares of Tesla during the 3rd quarter worth approximately $221,000. Finally, Quest Partners LLC purchased a new stake in Tesla in the 3rd quarter valued at approximately $2,363,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $238.01 on Tuesday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a market capitalization of $765.56 billion, a PE ratio of 116.67, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. 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 fifty day simple moving average of $347.85 and a 200-day simple moving average of $320.53.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of a number of analyst reports. Evercore ISI boosted their price target on Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a report on Friday, January 3rd. Truist Financial upped their target price on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a report on Monday, January 6th. Benchmark assumed coverage on shares of Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price objective on the stock. Finally, Stifel Nicolaus lowered their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Nine equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $323.00.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

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.