Perpetual Ltd Acquires 3,076 Shares of Tesla, Inc. (NASDAQ:TSLA)

Perpetual Ltd raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 122.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,581 shares of the electric vehicle producer’s stock after purchasing an additional 3,076 shares during the quarter. Perpetual Ltd’s holdings in Tesla were worth $2,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter valued at $29,000. Clean Yield Group raised its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Tesla during the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. raised its position in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 617,886 shares of company stock worth $212,451,751. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on TSLA. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective on the stock in a research note on Monday, January 6th. Barclays raised their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group raised their price objective on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $309.48.

Tesla Stock Down 0.7 %

NASDAQ TSLA opened at $412.38 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a 50 day moving average of $395.08 and a 200-day moving average of $292.13. The company has a market cap of $1.32 trillion, a price-to-earnings ratio of 112.98, a PEG ratio of 8.55 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

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.