TCW Group Inc. Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

TCW Group Inc. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.1% in the fourth quarter, HoldingsChannel reports. The firm owned 192,351 shares of the electric vehicle producer’s stock after buying an additional 45,655 shares during the quarter. TCW Group Inc.’s holdings in Tesla were worth $48,001,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Wyrmwood Management LLC bought a new position in shares of Tesla during the 4th quarter valued at approximately $25,000. Lam Group Inc. purchased a new stake in shares of Tesla during the 4th quarter worth approximately $25,000. Mendota Financial Group LLC raised its holdings in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares during the period. Kathleen S. Wright Associates Inc. raised its holdings in Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the period. Finally, Advisors Preferred LLC purchased a new stake in Tesla during the 3rd quarter valued at $60,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 3.5 %

Shares of TSLA stock traded down $6.37 on Thursday, hitting $173.74. The stock had a trading volume of 71,194,688 shares, compared to its average volume of 100,879,078. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The firm has a market capitalization of $554.09 billion, a P/E ratio of 44.82, a P/E/G ratio of 4.58 and a beta of 2.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company’s 50 day moving average price is $171.15 and its 200-day moving average price is $201.74.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Analysts anticipate that Tesla, Inc. will post 1.89 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on TSLA shares. Wells Fargo & Company cut their price objective on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research report on Friday, April 12th. Sanford C. Bernstein cut their price objective on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Wednesday, April 24th. HSBC cut their price objective on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 24th. Finally, Truist Financial cut their price objective on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $185.90.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly 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 SEC, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated 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 directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,097 shares of company stock valued at $37,877,471. 25.10% of the stock is currently owned by corporate insiders.

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.