Investment Management Corp VA ADV Invests $59,000 in Tesla, Inc. (NASDAQ:TSLA)

Investment Management Corp VA ADV acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, Holdings Channel reports. The fund acquired 147 shares of the electric vehicle producer’s stock, valued at approximately $59,000.

A number of other hedge funds have also made changes to their positions in TSLA. Norges Bank acquired a new position in shares of Tesla during the 4th quarter valued at $14,420,248,000. FMR LLC lifted its holdings in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. Strategic Financial Concepts LLC boosted its stake in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares during the period. Finally, Northern Trust Corp raised its position in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,623 shares of company stock worth $116,650,831. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on TSLA. Piper Sandler set a $400.00 price objective on shares of Tesla in a research report on Tuesday, May 6th. Morgan Stanley restated a “buy” rating and set a $430.00 target price on shares of Tesla in a report on Tuesday, April 22nd. Barclays decreased their price target on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Raymond James downgraded Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Finally, Glj Research reissued a “sell” rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $289.43.

Tesla Stock Performance

Shares of TSLA opened at $341.04 on Friday. The company has a market capitalization of $1.10 trillion, a PE ratio of 167.18, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a one year low of $167.41 and a one year high of $488.54. The company’s fifty day moving average price is $275.05 and its 200 day moving average price is $332.09.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 EPS. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.