Smartleaf Asset Management LLC Raises Stake in Tesla, Inc. $TSLA

Smartleaf Asset Management LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 32.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,754 shares of the electric vehicle producer’s stock after buying an additional 7,519 shares during the quarter. Tesla accounts for about 0.8% of Smartleaf Asset Management LLC’s portfolio, making the stock its 16th largest holding. Smartleaf Asset Management LLC’s holdings in Tesla were worth $13,631,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. First National Bank of Hutchinson acquired a new stake in shares of Tesla in the third quarter worth $265,000. GR Financial Group LLC boosted its holdings in Tesla by 15.7% in the third quarter. GR Financial Group LLC now owns 1,472 shares of the electric vehicle producer’s stock valued at $654,000 after purchasing an additional 200 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. grew its position in Tesla by 2.4% during the 3rd quarter. Arkfeld Wealth Strategies L.L.C. now owns 4,173 shares of the electric vehicle producer’s stock worth $1,794,000 after purchasing an additional 96 shares during the period. a16z Perennial Management L.P. purchased a new position in shares of Tesla during the 3rd quarter valued at about $1,725,000. Finally, Canada Post Corp Registered Pension Plan lifted its holdings in shares of Tesla by 20.7% in the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 56,055 shares of the electric vehicle producer’s stock valued at $24,844,000 after buying an additional 9,610 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on TSLA. Roth Mkm set a $505.00 target price on Tesla and gave the stock a “buy” rating in a report on Thursday, October 23rd. Barclays reaffirmed a “neutral” rating on shares of Tesla in a research note on Friday. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Tesla in a report on Thursday, January 29th. Morgan Stanley set a $415.00 price target on shares of Tesla and gave the stock an “equal weight” rating in a report on Thursday, January 29th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesla from $500.00 to $480.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $403.92.

Check Out Our Latest Analysis on Tesla

Tesla Stock Performance

NASDAQ:TSLA opened at $411.11 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16. The stock has a market capitalization of $1.54 trillion, a PE ratio of 380.66, a P/E/G ratio of 13.77 and a beta of 1.86. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $498.83. The company has a fifty day moving average of $446.45 and a two-hundred day moving average of $411.15.

Tesla (NASDAQ:TSLAGet Free Report) last released its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $24.90 billion during the quarter, compared to analysts’ expectations of $24.75 billion. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the transaction, the chief financial officer owned 13,757 shares in the company, valued at $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $445.40, for a total value of $26,724,000.00. Following the sale, the director owned 577,031 shares of the company’s stock, valued at $257,009,607.40. The trade was a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 119,457 shares of company stock valued at $53,501,145 over the last quarter. 19.90% of the stock is currently owned by insiders.

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Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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