Legacy Wealth Management LLC MS Makes New $858,000 Investment in Tesla, Inc. $TSLA

Legacy Wealth Management LLC MS purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,907 shares of the electric vehicle producer’s stock, valued at approximately $858,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Tesla during the 2nd quarter worth approximately $11,839,824,000. Holocene Advisors LP grew its stake in shares of Tesla by 132.2% in the third quarter. Holocene Advisors LP now owns 6,157,000 shares of the electric vehicle producer’s stock worth $2,738,141,000 after acquiring an additional 3,505,000 shares in the last quarter. Amundi grew its stake in shares of Tesla by 20.4% in the second quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock worth $6,374,284,000 after acquiring an additional 3,422,270 shares in the last quarter. Jennison Associates LLC increased its position in shares of Tesla by 38.3% during the third quarter. Jennison Associates LLC now owns 10,909,666 shares of the electric vehicle producer’s stock worth $4,851,747,000 after acquiring an additional 3,021,550 shares during the period. Finally, Capital World Investors raised its stake in shares of Tesla by 5.8% in the third quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock valued at $19,583,547,000 after acquiring an additional 2,403,019 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 3.2%

Shares of Tesla stock opened at $380.24 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $416.30 and a 200-day simple moving average of $426.27. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 352.07, a PEG ratio of 11.61 and a beta of 1.89. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The firm had revenue of $24.90 billion for the quarter, compared to analyst estimates of $24.75 billion. During the same period last year, the business earned $0.73 EPS. Tesla’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $405.00 target price on shares of Tesla in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research report on Tuesday, January 27th. Morgan Stanley set a $415.00 price objective on Tesla and gave the company an “equal weight” rating in a research note on Thursday, January 29th. New Street Research boosted their price objective on Tesla from $520.00 to $600.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, Truist Financial cut their target price on shares of Tesla from $439.00 to $438.00 and set a “hold” rating on the stock in a research note on Thursday, January 29th. Nineteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $406.84.

Get Our Latest Analysis on TSLA

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,264 shares of Tesla stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $397.03, for a total transaction of $898,875.92. Following the sale, the chief financial officer owned 18,106 shares in the company, valued at approximately $7,188,625.18. The trade was a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $445.40, for a total value of $26,724,000.00. Following the completion of the sale, the director directly owned 577,031 shares of the company’s stock, valued at $257,009,607.40. The trade was a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 87,995 shares of company stock valued at $38,315,650. 19.90% of the stock is currently owned by insiders.

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Featured Stories

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.