UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,536,519 shares of the electric vehicle producer’s stock after purchasing an additional 158,697 shares during the quarter. Tesla comprises about 2.3% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s investment portfolio, making the stock its 5th largest position. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Tesla were worth $9,908,828,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TSLA. True Wealth Design LLC boosted its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. raised its stake in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. lifted its holdings in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC acquired a new position in Tesla in the fourth quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla during the fourth quarter valued at approximately $38,000. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 412,623 shares of company stock worth $115,600,501. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TSLA shares. Royal Bank of Canada reduced their price objective on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Wedbush reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Tesla in a report on Thursday, May 1st. Glj Research reaffirmed a “sell” rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and upped their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Cantor Fitzgerald dropped their target price on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $289.43.

Tesla Stock Down 2.3%

Tesla stock opened at $342.09 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The firm has a fifty day moving average price of $269.23 and a two-hundred day moving average price of $331.30. The firm has a market cap of $1.10 trillion, a price-to-earnings ratio of 167.69, a P/E/G ratio of 5.86 and a beta of 2.43.

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

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.