Main Street Research LLC Acquires 1,394 Shares of Tesla, Inc. (NASDAQ:TSLA)

Main Street Research LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,198 shares of the electric vehicle producer’s stock after purchasing an additional 1,394 shares during the period. Main Street Research LLC’s holdings in Tesla were worth $3,528,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TSLA. Norges Bank acquired a new stake in Tesla in the 4th quarter valued at approximately $3,459,540,000. Moneta Group Investment Advisors LLC raised its position in Tesla by 180,125.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after buying an additional 26,836,879 shares during the last quarter. Bank of New York Mellon Corp raised its position in Tesla by 203.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock valued at $5,360,358,000 after buying an additional 13,558,882 shares during the last quarter. International Assets Investment Management LLC raised its position in Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Finally, Morgan Stanley raised its position in Tesla by 26.3% in the 4th quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after buying an additional 5,292,464 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

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

Tesla Price Performance

Shares of Tesla stock traded down $3.76 during trading on Tuesday, reaching $157.72. 76,868,251 shares of the company’s stock were exchanged, compared to its average volume of 101,860,047. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29. The company has a market cap of $502.31 billion, a P/E ratio of 36.36, a PEG 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same period in the previous year, the company earned $1.07 EPS. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, research analysts anticipate that Tesla, Inc. will post 1.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent analyst reports. Jefferies Financial Group lowered their price target on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. TD Cowen decreased their target price on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Citigroup decreased their target price on Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday. Wedbush decreased their target price on Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. Finally, Daiwa Capital Markets lowered Tesla from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $245.00 to $195.00 in a report on Tuesday, February 6th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $198.81.

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.