Jacobs Levy Equity Management Inc. Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Jacobs Levy Equity Management Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 451.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 285,121 shares of the electric vehicle producer’s stock after buying an additional 233,460 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Tesla were worth $115,143,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Tesla during the 4th quarter worth $14,420,248,000. FMR LLC raised its stake in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. HSBC cut their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Oppenheimer restated a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Mizuho cut their target price on Tesla from $375.00 to $325.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Barclays decreased their target price 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. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $287.46.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 408,623 shares of company stock worth $114,400,501. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

TSLA stock opened at $298.05 on Friday. The company has a market cap of $960.01 billion, a price-to-earnings ratio of 146.10, a PEG ratio of 5.86 and a beta of 2.43. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $258.65 and a 200-day moving average of $327.43. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54.

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