Acas LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Acas LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,040 shares of the electric vehicle producer’s stock after acquiring an additional 70 shares during the period. Acas LLC’s holdings in Tesla were worth $258,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Tesla by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after purchasing an additional 3,453,078 shares in the last quarter. Morgan Stanley increased its stake in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. FMR LLC increased its stake in shares of Tesla by 0.9% in the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after purchasing an additional 269,182 shares in the last quarter. Northern Trust Corp increased its stake in shares of Tesla by 3.4% in the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after purchasing an additional 909,170 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Tesla by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,697,074 shares of the electric vehicle producer’s stock valued at $3,677,502,000 after purchasing an additional 496,299 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Wednesday. Barclays lowered their price objective on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Wednesday. Canaccord Genuity Group lowered their price objective on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Citigroup lifted their price objective on Tesla from $180.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $186.22.

Tesla Trading Up 2.0 %

Shares of TSLA stock traded up $3.18 during mid-day trading on Thursday, reaching $165.31. The company’s stock had a trading volume of 39,271,563 shares, compared to its average volume of 102,082,055. The company’s 50 day simple moving average is $176.28 and its 200-day simple moving average is $208.91. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $526.48 billion, a PE ratio of 41.36, a price-to-earnings-growth ratio of 3.82 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 13.68% and a net margin of 14.37%. The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period last year, the firm earned $1.07 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts predict that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at approximately $11,188,215.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 in the last quarter. Company insiders own 25.10% of the company’s stock.

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.