Spectrum Management Group LLC Buys 1,106 Shares of Tesla, Inc. (NASDAQ:TSLA)

Spectrum Management Group LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 553.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,306 shares of the electric vehicle producer’s stock after acquiring an additional 1,106 shares during the quarter. Tesla comprises approximately 0.1% of Spectrum Management Group LLC’s portfolio, making the stock its 12th biggest position. Spectrum Management Group LLC’s holdings in Tesla were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Means Investment CO. Inc. increased its holdings in Tesla by 219.9% in the 3rd quarter. Means Investment CO. Inc. now owns 6,455 shares of the electric vehicle producer’s stock worth $1,712,000 after buying an additional 4,437 shares in the last quarter. Physicians Financial Services Inc. increased its holdings in Tesla by 125.6% in the 3rd quarter. Physicians Financial Services Inc. now owns 2,511 shares of the electric vehicle producer’s stock worth $666,000 after buying an additional 1,398 shares in the last quarter. Hancock Whitney Corp increased its holdings in Tesla by 234.4% in the 3rd quarter. Hancock Whitney Corp now owns 6,794 shares of the electric vehicle producer’s stock worth $1,802,000 after buying an additional 4,762 shares in the last quarter. Alaethes Wealth LLC increased its holdings in Tesla by 45.1% in the 2nd quarter. Alaethes Wealth LLC now owns 547 shares of the electric vehicle producer’s stock worth $368,000 after buying an additional 170 shares in the last quarter. Finally, Symphony Financial Ltd. Co. increased its holdings in Tesla by 56.4% in the 3rd quarter. Symphony Financial Ltd. Co. now owns 3,115 shares of the electric vehicle producer’s stock worth $835,000 after buying an additional 1,123 shares in the last quarter. 43.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective on Tesla from $230.00 to $130.00 and set an “equal weight” rating for the company in a report on Friday, January 13th. Morgan Stanley cut their price target on Tesla from $330.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, December 28th. Edward Jones upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, January 5th. Cowen cut their price target on Tesla from $244.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 20th. Finally, Oppenheimer downgraded Tesla from an “outperform” rating to a “market perform” rating in a research note on Monday, December 19th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $218.29.

Tesla Stock Up 4.9 %

Shares of TSLA opened at $133.42 on Monday. The stock has a market capitalization of $421.31 billion, a price-to-earnings ratio of 41.22, a price-to-earnings-growth ratio of 1.10 and a beta of 2.02. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $384.29. The business’s 50 day simple moving average is $150.72 and its 200-day simple moving average is $221.87. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.46 and a quick ratio of 1.04.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 1,312 shares of the company’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total transaction of $233,627.84. Following the sale, the senior vice president now directly owns 64,259 shares of the company’s stock, valued at approximately $11,442,600.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Andrew D. Baglino sold 1,312 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total transaction of $233,627.84. Following the transaction, the senior vice president now owns 64,259 shares of the company’s stock, valued at approximately $11,442,600.13. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total value of $2,414,475.00. Following the transaction, the senior vice president now directly owns 62,988 shares in the company, valued at approximately $14,484,090.60. The disclosure for this sale can be found here. Insiders have sold 24,172,833 shares of company stock valued at $4,492,567,309 in the last ninety days. Corporate insiders own 25.10% of the company’s stock.

About Tesla

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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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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