Mutual of America Capital Management LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Mutual of America Capital Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 5.8% during the 3rd quarter, Holdings Channel reports. The firm owned 106,402 shares of the electric vehicle producer’s stock after acquiring an additional 5,875 shares during the quarter. Tesla comprises approximately 0.8% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Mutual of America Capital Management LLC’s holdings in Tesla were worth $82,513,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Tesla in the 3rd quarter worth $27,000. O Brien Wealth Partners LLC acquired a new stake in Tesla in the 3rd quarter worth about $31,000. Laffer Tengler Investments boosted its holdings in shares of Tesla by 5,000.0% during the 2nd quarter. Laffer Tengler Investments now owns 51 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 50 shares during the last quarter. Prentice Wealth Management LLC raised its position in shares of Tesla by 1,766.7% during the 2nd quarter. Prentice Wealth Management LLC now owns 56 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 53 shares during the period. Finally, Evermay Wealth Management LLC purchased a new stake in Tesla in the second quarter valued at approximately $41,000. 40.97% of the stock is currently owned by institutional investors and hedge funds.

In other Tesla news, CEO Elon Musk sold 10,655 shares of the business’s stock in a transaction that occurred on Tuesday, December 28th. The stock was sold at an average price of $1,113.59, for a total value of $11,865,301.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Vaibhav Taneja sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, January 5th. The shares were sold at an average price of $1,160.85, for a total value of $1,276,935.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,292,621 shares of company stock valued at $4,500,554,314. 25.00% of the stock is owned by company insiders.

NASDAQ:TSLA traded up $5.30 during midday trading on Friday, hitting $1,036.86. 792,920 shares of the stock were exchanged, compared to its average volume of 29,548,982. Tesla, Inc. has a one year low of $539.49 and a one year high of $1,243.49. The company has a current ratio of 1.39, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 333.84, a P/E/G ratio of 4.34 and a beta of 1.98. The business has a 50-day moving average price of $1,061.95 and a two-hundred day moving average price of $868.19.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, October 19th. The electric vehicle producer reported $1.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.90. Tesla had a net margin of 7.40% and a return on equity of 13.81%. The business had revenue of $13.76 billion for the quarter, compared to analyst estimates of $13.70 billion. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Tesla’s revenue was up 56.8% compared to the same quarter last year. Sell-side analysts forecast that Tesla, Inc. will post 4.21 EPS for the current fiscal year.

Several equities analysts have issued reports on TSLA shares. Tudor Pickering began coverage on shares of Tesla in a research note on Thursday, September 23rd. They issued a “sell” rating and a $537.00 price objective for the company. Tudor, Pickering, Holt & Co. assumed coverage on shares of Tesla in a research report on Thursday, September 23rd. They issued a “sell” rating and a $537.00 price target on the stock. lifted their price target on shares of Tesla from $940.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $1,000.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday, December 31st. Finally, Zacks Investment Research lowered Tesla from a “buy” rating to a “hold” rating and set a $1,078.00 price objective for the company. in a report on Monday. Eight analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $900.94.

About Tesla

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. It also provides vehicle service centers, Supercharger stations, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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