Magnus Financial Group LLC lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,640 shares of the electric vehicle producer’s stock after selling 673 shares during the quarter. Tesla makes up 0.9% of Magnus Financial Group LLC’s portfolio, making the stock its 24th biggest holding. Magnus Financial Group LLC’s holdings in Tesla were worth $9,143,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Geode Capital Management LLC lifted its holdings in shares of Tesla by 1.8% in the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares in the last quarter. FMR LLC increased its holdings in Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after acquiring an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after purchasing an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.
Tesla Trading Down 1.4 %
NASDAQ TSLA opened at $406.58 on Friday. The company’s 50-day simple moving average is $397.11 and its two-hundred day simple moving average is $292.97. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market capitalization of $1.31 trillion, a price-to-earnings ratio of 111.39, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.
Wall Street Analyst Weigh In
A number of brokerages recently commented on TSLA. Jefferies Financial Group increased their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and raised their target price for the company from $400.00 to $490.00 in a report on Tuesday, January 7th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Royal Bank of Canada lifted their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Eight research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $313.84.
Get Our Latest Stock Report on Tesla
Insider Activity
In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $300.37, for a total value of $2,402,960.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $31,548,461.84. The trade was a 7.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 617,886 shares of company stock worth $212,451,751. 20.70% of the stock is currently owned by company insiders.
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.
Recommended Stories
- Five stocks we like better than Tesla
- What Does a Stock Split Mean?
- Why Energy Transfer Stock Could Soar to New Highs in 2025
- NYSE Stocks Give Investors a Variety of Quality Options
- 3 Buy-and-Hold Stocks for Long-Term Growth
- Investing In Automotive Stocks
- Despite Short-Term Risks Freeport McMoran Worth a Look
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.