Ieq Capital LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Ieq Capital LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 240,185 shares of the electric vehicle producer’s stock after buying an additional 25,117 shares during the quarter. Tesla makes up approximately 0.9% of Ieq Capital LLC’s investment portfolio, making the stock its 19th largest position. Ieq Capital LLC’s holdings in Tesla were worth $96,996,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Hengehold Capital Management LLC grew its holdings in Tesla by 1.8% in the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares in the last quarter. Strategic Investment Advisors MI grew its holdings in shares of Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the period. Acropolis Investment Management LLC grew its holdings in shares of Tesla by 0.9% during the 4th quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares during the period. Mount Vernon Associates Inc. MD grew its holdings in shares of Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock worth $2,950,000 after purchasing an additional 25 shares during the period. Finally, Vista Finance LLC grew its holdings in shares of Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research analyst reports. Piper Sandler increased their price target on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Wells Fargo & Company increased their price target on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, January 30th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Finally, Robert W. Baird lowered their target price on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Ten research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $319.57.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $337.80 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.09 trillion, a PE ratio of 165.59, a price-to-earnings-growth ratio of 5.86 and a beta of 2.34. The stock’s 50-day simple moving average is $400.17 and its 200-day simple moving average is $313.18.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the transaction, the director now owns 85,000 shares in the company, valued at $32,643,400. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 in the last quarter. 20.70% of the stock is owned by insiders.

Tesla 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.