Gruss & Co. LLC Buys New Position in Tesla, Inc. (NASDAQ:TSLA)

Gruss & Co. LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 500 shares of the electric vehicle producer’s stock, valued at approximately $202,000. Tesla makes up approximately 0.9% of Gruss & Co. LLC’s investment portfolio, making the stock its 23rd largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB boosted its holdings in Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after acquiring an additional 29,669 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Tesla during the third quarter valued at approximately $403,000. Lansing Street Advisors increased its position in shares of Tesla by 4.0% during the third quarter. Lansing Street Advisors now owns 1,852 shares of the electric vehicle producer’s stock valued at $485,000 after acquiring an additional 72 shares during the last quarter. Blue Square Asset Management LLC increased its position in Tesla by 9.0% in the third quarter. Blue Square Asset Management LLC now owns 28,527 shares of the electric vehicle producer’s stock worth $7,464,000 after buying an additional 2,350 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Tesla by 12.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 817,309 shares of the electric vehicle producer’s stock worth $213,833,000 after buying an additional 93,389 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 2.8 %

Shares of NASDAQ:TSLA opened at $284.65 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The company has a 50-day moving average price of $382.44 and a 200 day moving average price of $318.01. The company has a market cap of $915.58 billion, a price-to-earnings ratio of 139.53, a PEG ratio of 5.86 and a beta of 2.34.

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

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. This represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, February 3rd. The stock was 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 directly owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 403,996 shares of company stock valued at $153,721,387 in the last ninety days. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Wedbush set a $302.80 price target on Tesla in a report on Wednesday, February 26th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Truist Financial lifted their price objective on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Evercore ISI lifted their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Finally, Mizuho reaffirmed an “outperform” rating and set 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 given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $318.77.

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.