Marshall Wace North America L.P. bought a new position in Tesla Inc (NASDAQ:TSLA) in the fourth quarter, HoldingsChannel.com reports. The fund bought 2,872 shares of the electric vehicle producer’s stock, valued at approximately $1,201,000.
A number of other large investors also recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in Tesla by 486.9% during the 4th quarter. Renaissance Technologies LLC now owns 3,938,142 shares of the electric vehicle producer’s stock valued at $1,647,443,000 after buying an additional 3,267,141 shares during the last quarter. Baillie Gifford & Co. raised its stake in Tesla by 2.8% during the 4th quarter. Baillie Gifford & Co. now owns 13,826,979 shares of the electric vehicle producer’s stock valued at $5,784,239,000 after buying an additional 375,408 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Tesla by 577.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 257,368 shares of the electric vehicle producer’s stock valued at $61,992,000 after buying an additional 311,303 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Tesla during the 4th quarter valued at $72,820,000. Finally, Bank of Montreal Can raised its stake in Tesla by 122.4% during the 4th quarter. Bank of Montreal Can now owns 232,790 shares of the electric vehicle producer’s stock valued at $97,384,000 after buying an additional 128,108 shares during the last quarter. 53.83% of the stock is owned by institutional investors and hedge funds.
TSLA stock opened at $539.25 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.13 and a quick ratio of 0.80. Tesla Inc has a 1-year low of $176.99 and a 1-year high of $968.99. The business has a 50 day simple moving average of $688.92 and a two-hundred day simple moving average of $441.26. The company has a market capitalization of $97.79 billion, a price-to-earnings ratio of -106.36, a PEG ratio of 16.18 and a beta of 0.49.
In other news, CEO Elon Musk purchased 13,037 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average cost of $767.00 per share, with a total value of $9,999,379.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Vaibhav Taneja sold 1,934 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $902.23, for a total value of $1,744,912.82. Following the transaction, the chief accounting officer now directly owns 2,173 shares of the company’s stock, valued at $1,960,545.79. The disclosure for this sale can be found here. Insiders have sold 85,536 shares of company stock valued at $75,305,782 over the last ninety days. 24.40% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on TSLA. New Street Research lowered shares of Tesla to a “hold” rating in a research note on Wednesday, February 12th. BNP Paribas lowered shares of Tesla from an “outperform” rating to a “neutral” rating and set a $555.00 target price for the company. in a research note on Thursday, January 23rd. Wedbush decreased their target price on shares of Tesla from $710.00 to $425.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Credit Suisse Group boosted their target price on shares of Tesla from $340.00 to $415.00 and gave the company an “underperform” rating in a research note on Thursday, January 30th. They noted that the move was a valuation call. Finally, BidaskClub lowered shares of Tesla from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 17th. Thirteen analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $470.85.
Tesla Company Profile
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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