Berry Wealth Group LP Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Berry Wealth Group LP bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,402 shares of the electric vehicle producer’s stock, valued at approximately $348,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its position in Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after buying an additional 6,179,032 shares during the period. Vanguard Group Inc. boosted its holdings in Tesla by 1.6% during 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 acquiring an additional 3,453,078 shares during the period. California Public Employees Retirement System grew its position in Tesla by 34.0% during the 3rd quarter. California Public Employees Retirement System now owns 9,032,207 shares of the electric vehicle producer’s stock worth $2,260,039,000 after acquiring an additional 2,293,344 shares during the last quarter. Morgan Stanley increased its stake in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Finally, Northern Trust Corp lifted its position in Tesla by 3.4% in the third 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 during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.3 %

NASDAQ:TSLA traded down $2.40 during trading hours on Wednesday, reaching $180.88. 52,343,043 shares of the company traded hands, compared to its average volume of 104,679,563. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $174.71 and its two-hundred day moving average price is $206.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The stock has a market capitalization of $576.86 billion, a P/E ratio of 45.96, a P/E/G ratio of 5.28 and a beta of 2.39.

Analysts Set New Price Targets

A number of research firms recently commented on TSLA. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Wells Fargo & Company dropped their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a report on Friday, April 12th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Wednesday, April 24th. Morgan Stanley lowered their price target on Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. cut their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $184.32.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold 209,098 shares of company stock worth $38,802,534 over the last three months. 20.90% of the stock is currently owned by corporate insiders.

About Tesla

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.