Cerity Partners LLC Has $159.01 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Cerity Partners LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 393,754 shares of the electric vehicle producer’s stock after buying an additional 5,619 shares during the quarter. Cerity Partners LLC’s holdings in Tesla were worth $159,014,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC increased its position in shares of Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares in the last quarter. Norges Bank bought a new position in Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC boosted its position in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Tesla by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock worth $6,996,871,000 after buying an additional 780,026 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 370,228 shares of company stock valued at $122,791,123 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TSLA shares. Stifel Nicolaus decreased their price target on Tesla from $474.00 to $455.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the stock an “in-line” rating in a research report on Friday, January 3rd. Benchmark began coverage on shares of Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 price target on the stock. Robert W. Baird reduced their price objective on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Morgan Stanley decreased their price objective on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $312.65.

Tesla Price Performance

TSLA stock opened at $239.43 on Monday. The stock has a 50-day moving average price of $305.98 and a two-hundred day moving average price of $324.24. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a market cap of $770.13 billion, a PE ratio of 117.37, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. 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 (NASDAQ:TSLA) last posted its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.