Dakota Wealth Management Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Dakota Wealth Management boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,079 shares of the electric vehicle producer’s stock after acquiring an additional 846 shares during the period. Dakota Wealth Management’s holdings in Tesla were worth $3,250,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mount Vernon Associates Inc. MD lifted its position in Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after buying an additional 350 shares in the last quarter. Oak Ridge Investments LLC raised its holdings in shares of Tesla by 4.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after acquiring an additional 1,405 shares during the period. CWM LLC boosted its position in shares of Tesla by 14.4% during the 3rd quarter. CWM LLC now owns 146,740 shares of the electric vehicle producer’s stock valued at $36,717,000 after acquiring an additional 18,462 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of Tesla by 3.7% in the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after purchasing an additional 25,943 shares during the period. Finally, Nordea Investment Management AB increased its position in Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after purchasing an additional 81,729 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Tesla from $200.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Redburn Atlantic started coverage on Tesla in a research report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price objective for the company. Canaccord Genuity Group reduced their target price on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Robert W. Baird lowered their price target on Tesla from $300.00 to $280.00 and set an “outperform” rating for the company in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. cut their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $198.81.

Tesla Stock Down 5.6 %

Shares of NASDAQ:TSLA opened at $161.48 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The stock has a market cap of $514.28 billion, a price-to-earnings ratio of 37.47, a price-to-earnings-growth ratio of 4.50 and a beta of 2.40. The firm’s 50 day moving average price is $181.44 and its 200 day moving average price is $213.70.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. Tesla’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 1.98 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 20.90% of the company’s stock.

About Tesla

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.