Rice Partnership LLC Has $2.67 Million Position in Tesla, Inc. $TSLA

Rice Partnership LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 20.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,013 shares of the electric vehicle producer’s stock after selling 1,569 shares during the period. Rice Partnership LLC’s holdings in Tesla were worth $2,674,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TSLA. Vanguard Group Inc. increased its position in shares of Tesla by 0.4% during the third quarter. Vanguard Group Inc. now owns 252,386,304 shares of the electric vehicle producer’s stock worth $112,241,237,000 after acquiring an additional 995,623 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after purchasing an additional 1,269,304 shares during the period. Norges Bank bought a new position in Tesla during the 2nd quarter worth about $11,839,824,000. Legal & General Group Plc raised its stake in shares of Tesla by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after purchasing an additional 1,134,678 shares during the period. Finally, Amundi lifted its holdings in shares of Tesla by 20.4% in the second quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after purchasing an additional 3,422,270 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the transaction, the director directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction dated 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 completion of the sale, the director owned 577,031 shares of the company’s stock, valued at approximately $257,009,607.40. The trade was a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 119,457 shares of company stock worth $53,501,145 over the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. New Street Research lifted their target price on Tesla from $520.00 to $600.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. TD Cowen lifted their price objective on shares of Tesla from $509.00 to $519.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Phillip Securities reduced their target price on shares of Tesla from $220.00 to $215.00 and set a “sell” rating for the company in a report on Monday, February 2nd. JPMorgan Chase & Co. decreased their target price on shares of Tesla from $150.00 to $145.00 and set an “underweight” rating for the company in a research report on Friday, January 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $510.00 price objective on shares of Tesla in a research note on Thursday, January 29th. Eighteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $408.09.

Get Our Latest Analysis on TSLA

Tesla Stock Down 2.9%

Shares of TSLA opened at $399.83 on Tuesday. The company has a 50-day simple moving average of $439.14 and a 200-day simple moving average of $419.52. 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 firm has a market capitalization of $1.50 trillion, a P/E ratio of 370.21, a P/E/G ratio of 14.50 and a beta of 1.86. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data 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 company had revenue of $24.90 billion during the quarter, compared to the consensus estimate of $24.75 billion. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned $0.73 EPS. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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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