Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,953 shares of the electric vehicle producer’s stock after buying an additional 253 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Tesla were worth $4,019,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC grew its position in Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after purchasing an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Wellington Management Group LLP grew its position in Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 523,386 shares of company stock worth $195,995,200. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research analyst reports. Bank of America cut shares of Tesla from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $400.00 to $490.00 in a research report on Tuesday, January 7th. Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler boosted their price target on shares of Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $319.57.

Tesla Stock Performance

TSLA opened at $290.80 on Thursday. The stock has a market cap of $935.36 billion, a PE ratio of 142.55, a P/E/G ratio of 5.86 and a beta of 2.34. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock’s 50 day simple moving average is $390.99 and its 200-day simple moving average is $315.51.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company 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.