MMA Asset Management LLC Has $1.26 Million Position in Tesla, Inc. $TSLA

MMA Asset Management LLC raised its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 183.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,830 shares of the electric vehicle producer’s stock after purchasing an additional 1,830 shares during the period. MMA Asset Management LLC’s holdings in Tesla were worth $1,259,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Tesla during the second quarter worth $11,839,824,000. Vanguard Group Inc. lifted its position in Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares in the last quarter. Amundi boosted its stake in Tesla by 20.4% during the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after purchasing an additional 3,422,270 shares during the last quarter. Jennison Associates LLC increased its holdings in Tesla by 38.3% during the 3rd quarter. Jennison Associates LLC now owns 10,909,666 shares of the electric vehicle producer’s stock worth $4,851,747,000 after purchasing an additional 3,021,550 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Tesla by 2.0% in the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after purchasing an additional 1,269,304 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. HSBC reiterated a “reduce” rating on shares of Tesla in a report on Monday, November 17th. DZ Bank reaffirmed a “sell” rating on shares of Tesla in a research report on Thursday, January 29th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, January 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $500.00 price target on shares of Tesla in a report on Thursday, January 29th. Finally, New Street Research boosted their price target on shares of Tesla from $520.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Seventeen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $403.92.

Check Out Our Latest Analysis on TSLA

Key Tesla News

Here are the key news stories impacting Tesla this week:

Tesla Price Performance

TSLA stock opened at $411.11 on Friday. The firm has a 50 day moving average of $446.45 and a 200-day moving average of $410.61. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 380.66, a price-to-earnings-growth ratio of 13.30 and a beta of 1.86. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $498.83. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The company had revenue of $24.90 billion for the quarter, compared to the consensus estimate of $24.75 billion. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 56,820 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 119,457 shares of company stock worth $53,501,145. Insiders own 19.90% of the company’s stock.

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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