New York Life Investment Management LLC Acquires 3,478 Shares of Tesla, Inc. (NASDAQ:TSLA)

New York Life Investment Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 415,761 shares of the electric vehicle producer’s stock after acquiring an additional 3,478 shares during the period. Tesla comprises 1.6% of New York Life Investment Management LLC’s investment portfolio, making the stock its 10th biggest holding. New York Life Investment Management LLC’s holdings in Tesla were worth $167,901,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Swedbank AB grew its position in Tesla by 2.8% in the 3rd quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock worth $287,457,000 after purchasing an additional 29,669 shares in the last quarter. Foundation Wealth Management LLC bought a new stake in Tesla in the 3rd quarter worth about $225,000. JFS Wealth Advisors LLC grew its position in Tesla by 75.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,014 shares of the electric vehicle producer’s stock worth $527,000 after purchasing an additional 864 shares in the last quarter. HM Payson & Co. grew its position in Tesla by 16.7% in the 3rd quarter. HM Payson & Co. now owns 4,624 shares of the electric vehicle producer’s stock worth $1,210,000 after purchasing an additional 662 shares in the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC grew its position in Tesla by 21.6% in the 3rd quarter. Baron Silver Stevens Financial Advisors LLC now owns 3,773 shares of the electric vehicle producer’s stock worth $987,000 after purchasing an additional 671 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $293.33 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $943.49 billion, a PE ratio of 143.79, a P/E/G ratio of 5.86 and a beta of 2.34. The company’s 50 day simple moving average is $385.35 and its two-hundred day simple moving average is $315.95.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) 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%. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. Robert W. Baird reduced their price objective on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Monday, February 10th. UBS Group increased their target price on shares of Tesla from $226.00 to $259.00 and gave the company a “sell” rating in a research report on Thursday, January 30th. Finally, Benchmark started coverage on shares of Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Ten research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $318.77.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total transaction of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is currently owned by corporate 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.