Citizens Financial Group Inc. RI Purchases 32,395 Shares of Tesla, Inc. (NASDAQ:TSLA)

Citizens Financial Group Inc. RI boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 121.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,972 shares of the electric vehicle producer’s stock after purchasing an additional 32,395 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Tesla were worth $23,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Strategic Financial Concepts LLC boosted its position in Tesla by 36,790.0% during the fourth 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 during the period. Proficio Capital Partners LLC boosted its position in Tesla by 55,181.0% during the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after purchasing an additional 4,374,746 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Tesla by 194.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after acquiring an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Tesla by 13.7% in the third 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 valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after acquiring an additional 2,511,488 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of TSLA stock opened at $222.15 on Tuesday. The business’s 50 day simple moving average is $363.87 and its 200 day simple moving average is $319.46. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The stock has a market capitalization of $714.55 billion, a PE ratio of 108.90, a PEG ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $7,242,273.50. This represents a 9.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 422,452 shares of company stock worth $153,659,530 over the last ninety days. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Mizuho reissued an “outperform” rating and issued a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Wells Fargo & Company boosted their target price on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Wedbush reaffirmed an “outperform” rating and issued a $550.00 price target on shares of Tesla in a research note on Friday. Finally, The Goldman Sachs Group reaffirmed a “cautious” rating on shares of Tesla in a research note on Monday, March 3rd. Nine investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $326.31.

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.