Synergy Asset Management LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Synergy Asset Management LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 294.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,994 shares of the electric vehicle producer’s stock after purchasing an additional 62,714 shares during the period. Tesla comprises approximately 2.6% of Synergy Asset Management LLC’s holdings, making the stock its 9th largest holding. Synergy Asset Management LLC’s holdings in Tesla were worth $33,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Hengehold Capital Management LLC grew its stake in shares of Tesla by 1.8% during the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after buying an additional 24 shares during the last quarter. Strategic Investment Advisors MI boosted its stake in shares of Tesla by 0.3% during the fourth quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock valued at $2,823,000 after purchasing an additional 24 shares during the period. Acropolis Investment Management LLC grew its holdings in shares of Tesla by 0.9% in the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock worth $1,136,000 after purchasing an additional 25 shares during the last quarter. Mount Vernon Associates Inc. MD lifted its holdings in Tesla by 0.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after buying an additional 25 shares in the last quarter. Finally, Prospect Financial Services LLC grew its stake in Tesla by 0.3% in the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer’s stock worth $3,029,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TSLA. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Barclays increased their target price on shares of Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. boosted their target price on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group upped their price objective on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Nine research analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $318.31.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 553,386 shares of company stock worth $196,305,796. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Up 1.1 %

Tesla stock opened at $404.60 on Monday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm’s fifty day simple moving average is $404.22 and its 200-day simple moving average is $299.34. The company has a market capitalization of $1.30 trillion, a P/E ratio of 198.33, a P/E/G ratio of 8.08 and a beta of 2.30. 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 (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. Sell-side analysts forecast that Tesla, Inc. will post 2.82 earnings per share 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.