C2C Wealth Management LLC Takes $558,000 Position in Tesla, Inc. (NASDAQ:TSLA)

C2C Wealth Management LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,381 shares of the electric vehicle producer’s stock, valued at approximately $558,000.

Several other hedge funds have also made changes to their positions in the company. Schroder Investment Management Group increased its holdings in shares of Tesla by 75.0% in the 4th quarter. Schroder Investment Management Group now owns 2,351,851 shares of the electric vehicle producer’s stock valued at $949,772,000 after acquiring an additional 1,007,647 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Tesla in the 4th quarter valued at $162,580,000. PARUS FINANCE UK Ltd raised its stake in shares of Tesla by 148.0% in the fourth quarter. PARUS FINANCE UK Ltd now owns 14,529 shares of the electric vehicle producer’s stock worth $5,867,000 after purchasing an additional 8,670 shares during the last quarter. Allianz SE purchased a new position in Tesla during the 4th quarter worth approximately $43,531,000. Finally, Tucker Asset Management LLC lifted its stake in Tesla by 20.0% during the 4th quarter. Tucker Asset Management LLC now owns 4,870 shares of the electric vehicle producer’s stock valued at $1,967,000 after acquiring an additional 812 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 3.5 %

Shares of NASDAQ:TSLA opened at $263.55 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $847.71 billion, a price-to-earnings ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50. The business has a 50-day moving average price of $321.33 and a 200 day moving average price of $322.34. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 477,228 shares of company stock valued at $166,849,043. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on TSLA. Stifel Nicolaus lowered their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Mizuho reduced their price target on Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Glj Research restated a “buy” rating on shares of Tesla in a research report on Tuesday, March 11th. Robert W. Baird cut their target price on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $318.34.

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.