Van Hulzen Asset Management LLC Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Van Hulzen Asset Management LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,271 shares of the electric vehicle producer’s stock after buying an additional 554 shares during the period. Tesla accounts for approximately 2.2% of Van Hulzen Asset Management LLC’s investment portfolio, making the stock its 6th biggest position. Van Hulzen Asset Management LLC’s holdings in Tesla were worth $29,994,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB lifted its position in shares of Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after buying an additional 29,669 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after acquiring an additional 194,796 shares during the last quarter. United Bank bought a new stake in Tesla in the 3rd quarter valued at $287,000. Meridian Investment Counsel Inc. acquired a new stake in Tesla during the 3rd quarter valued at $230,000. Finally, TSA Wealth Managment LLC boosted its position in Tesla by 23.4% during the third quarter. TSA Wealth Managment LLC now owns 1,822 shares of the electric vehicle producer’s stock worth $477,000 after purchasing an additional 345 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 3.9 %

Shares of TSLA opened at $249.98 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 52 week low of $138.80 and a 52 week high of $488.54. The stock has a market capitalization of $804.06 billion, a price-to-earnings ratio of 122.54, a PEG ratio of 5.86 and a beta of 2.50. The stock has a fifty day moving average of $351.31 and a 200-day moving average of $319.51.

Tesla (NASDAQ:TSLA) last posted 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, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Truist Financial boosted their price target on Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Canaccord Genuity Group reiterated a “buy” rating and set a $404.00 price objective on shares of Tesla in a research report on Tuesday, March 11th. Finally, Evercore ISI boosted their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $325.65.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock worth $166,849,043 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.