Quadrant Capital Group LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Quadrant Capital Group LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 9.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,493 shares of the electric vehicle producer’s stock after acquiring an additional 2,801 shares during the period. Tesla makes up 0.9% of Quadrant Capital Group LLC’s investment portfolio, making the stock its 17th largest position. Quadrant Capital Group LLC’s holdings in Tesla were worth $12,718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after buying an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC grew its position in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares in the last quarter. Norges Bank bought a new position in Tesla in the fourth quarter valued at $14,420,248,000. Charles Schwab Investment Management Inc. raised its position in Tesla by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after purchasing an additional 780,026 shares in the last quarter. Finally, Amundi lifted its stake in Tesla by 1.2% during the fourth quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer’s stock worth $5,117,345,000 after purchasing an additional 159,508 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Robert W. Baird decreased their price objective on Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Stifel Nicolaus lowered their price objective on shares of Tesla from $474.00 to $455.00 and set a “buy” rating for the company in a report on Monday, March 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $425.00 target price on shares of Tesla in a report on Thursday. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday, January 6th. Finally, Piper Sandler reduced their price objective on Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $312.65.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla 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 transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,228 shares of company stock worth $166,849,043 in the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $239.43 on Friday. The business’s 50 day moving average price is $305.98 and its 200-day moving average price is $323.56. The stock has a market cap of $770.13 billion, a P/E ratio of 117.37, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.