Gradient Investments LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Gradient Investments LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 97.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,609 shares of the electric vehicle producer’s stock after buying an additional 3,266 shares during the quarter. Gradient Investments LLC’s holdings in Tesla were worth $814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TSLA. Cranbrook Wealth Management LLC grew its holdings in shares of Tesla by 224.1% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 65 shares during the last quarter. Coston McIsaac & Partners grew its holdings in shares of Tesla by 200.0% during the 3rd quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 64 shares during the last quarter. West Oak Capital LLC bought a new position in shares of Tesla during the 3rd quarter valued at $27,000. Alpha Paradigm Partners LLC bought a new position in shares of Tesla during the 3rd quarter valued at $27,000. Finally, Norway Savings Bank grew its holdings in shares of Tesla by 200.0% during the 3rd quarter. Norway Savings Bank now owns 105 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 43.00% of the company’s stock.

Tesla Stock Down 2.2 %

Shares of Tesla stock opened at $180.13 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.53. The stock has a market capitalization of $569.95 billion, a PE ratio of 49.71, a price-to-earnings-growth ratio of 2.19 and a beta of 2.06. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $384.29. The company has a 50-day simple moving average of $175.38 and a two-hundred day simple moving average of $197.07.

Tesla (NASDAQ:TSLA – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The electric vehicle producer reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.21. Tesla had a net margin of 15.41% and a return on equity of 31.71%. The firm had revenue of $24.32 billion during the quarter, compared to analysts’ expectations of $24.26 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The firm’s quarterly revenue was up 37.2% on a year-over-year basis. On average, analysts anticipate that Tesla, Inc. will post 3.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Edward Jones raised shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, January 5th. Piper Sandler cut their price target on shares of Tesla from $340.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, January 18th. Jefferies Financial Group raised their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, March 6th. Morgan Stanley cut their price target on shares of Tesla from $250.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, January 25th. Finally, Mizuho cut their price target on shares of Tesla from $285.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, January 5th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $221.39.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $117.50, for a total transaction of $1,233,750.00. Following the completion of the transaction, the senior vice president now directly owns 64,259 shares of the company’s stock, valued at $7,550,432.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $117.50, for a total transaction of $1,233,750.00. Following the completion of the sale, the senior vice president now directly owns 64,259 shares in the company, valued at $7,550,432.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew D. Baglino sold 1,298 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $195.79, for a total transaction of $254,135.42. Following the sale, the senior vice president now owns 65,547 shares of the company’s stock, valued at $12,833,447.13. The disclosure for this sale can be found here. Insiders sold 53,221 shares of company stock valued at $8,988,542 over the last three months. Insiders own 25.10% of the company’s stock.

Tesla Profile

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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.