Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,089 shares of the electric vehicle producer’s stock after purchasing an additional 40 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Tesla were worth $440,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares during the period. FMR LLC grew its stake in shares of Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after purchasing an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after buying an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after buying an additional 1,294,093 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ TSLA opened at $398.31 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market capitalization of $1.28 trillion, a P/E ratio of 109.13, a P/E/G ratio of 8.42 and a beta of 2.30. The business’s 50-day simple moving average is $399.99 and its 200-day simple moving average is $295.57.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock worth $212,451,751 over the last ninety days. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their target price on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Jefferies Financial Group upped their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Truist Financial restated a “hold” rating and set a $360.00 target price on shares of Tesla in a research report on Thursday, January 2nd. Finally, HSBC reiterated a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $313.84.

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.