Ieq Capital LLC Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Ieq Capital LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.7% during the 4th quarter, HoldingsChannel reports. The firm owned 240,185 shares of the electric vehicle producer’s stock after acquiring an additional 25,117 shares during the period. Tesla accounts for 0.9% of Ieq Capital LLC’s portfolio, making the stock its 19th biggest position. Ieq Capital LLC’s holdings in Tesla were worth $96,996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the 3rd quarter valued at approximately $29,000. Peterson Financial Group Inc. purchased a new position in shares of Tesla in the 3rd quarter valued at approximately $35,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $46,000. PayPay Securities Corp boosted its stake 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 buying an additional 69 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Tesla by 692.6% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after buying an additional 187 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the sale, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $337.80 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm has a market capitalization of $1.09 trillion, a PE ratio of 165.59, a P/E/G ratio of 5.86 and a beta of 2.34. The business has a 50-day moving average of $400.17 and a two-hundred day moving average of $313.18.

Tesla (NASDAQ:TSLA) last posted 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 net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TSLA shares. Wells Fargo & Company lifted their price target on Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, January 30th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Canaccord Genuity Group lifted their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Robert W. Baird decreased their price target on Tesla from $480.00 to $440.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Finally, Mizuho restated an “outperform” rating and issued a $515.00 price target on shares of Tesla in a research note on Thursday, January 30th. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $319.57.

Tesla Company 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.