Nuveen Asset Management LLC Has $5.29 Billion Holdings in Tesla, Inc. (NASDAQ:TSLA)

Nuveen Asset Management LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,109,178 shares of the electric vehicle producer’s stock after purchasing an additional 2,170,449 shares during the quarter. Tesla makes up about 1.5% of Nuveen Asset Management LLC’s holdings, making the stock its 8th biggest position. Nuveen Asset Management LLC owned approximately 0.41% of Tesla worth $5,294,010,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Numerai GP LLC bought a new stake in Tesla during the fourth quarter worth approximately $2,875,000. Occudo Quantitative Strategies LP lifted its stake in shares of Tesla by 90.0% in the fourth quarter. Occudo Quantitative Strategies LP now owns 6,354 shares of the electric vehicle producer’s stock worth $2,566,000 after buying an additional 3,010 shares during the last quarter. OMERS ADMINISTRATION Corp grew its stake in Tesla by 9.2% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 140,237 shares of the electric vehicle producer’s stock valued at $56,633,000 after buying an additional 11,791 shares during the last quarter. Obermeyer Wealth Partners raised its holdings in Tesla by 4.3% in the 4th quarter. Obermeyer Wealth Partners now owns 1,269 shares of the electric vehicle producer’s stock worth $512,000 after acquiring an additional 52 shares during the period. Finally, Maytus Capital Management LLC acquired a new position in Tesla during the 4th quarter worth $2,423,000. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now directly owns 23,084 shares in the company, valued at $6,833,325.68. This trade represents a 20.63% 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 the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $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 quarter, insiders have sold 412,623 shares of company stock valued at $115,600,501. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Up 4.9%

Shares of NASDAQ:TSLA opened at $334.07 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.08 trillion, a P/E ratio of 163.76, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The company’s 50-day moving average price is $260.85 and its two-hundred day moving average price is $328.28.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TSLA shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Bank of America lowered their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Barclays reduced their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Finally, Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $287.46.

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.