Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,685 shares of the electric vehicle producer’s stock after acquiring an additional 345 shares during the quarter. First Horizon Advisors Inc.’s holdings in Tesla were worth $5,123,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings 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 valued at $15,469,792,000 after acquiring an additional 1,022,589 shares in the last quarter. FMR LLC boosted its position in Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Tesla by 13.7% in 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 valued at $6,377,970,000 after buying an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Tesla by 1.9% in the third 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 boosted its position in Tesla by 11.9% in the third 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 last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TSLA shares. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Canaccord Genuity Group upped their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Guggenheim restated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, January 29th. Finally, Truist Financial upped their price objective on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $319.57.

Tesla Stock Down 2.2 %

NASDAQ TSLA opened at $330.53 on Tuesday. The business has a fifty day moving average price of $397.52 and a 200 day moving average price of $314.96. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market cap of $1.06 trillion, a P/E ratio of 162.03, a P/E/G ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This trade represents a 6.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 523,386 shares of company stock valued at $195,995,200 in the last three months. 20.70% of the stock is currently owned by insiders.

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.