Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,197,299 shares of the electric vehicle producer’s stock after buying an additional 64,674 shares during the quarter. Alliancebernstein L.P. owned about 0.10% of Tesla worth $1,291,197,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TSLA. Norges Bank acquired a new stake in Tesla in the 4th quarter valued at approximately $14,420,248,000. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Tesla by 55,181.0% in the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after buying an additional 4,374,746 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Tesla by 194.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after buying an additional 3,624,910 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 3.5 %

Shares of TSLA stock opened at $263.55 on Monday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $321.33 and its two-hundred day moving average is $323.01. The company has a market capitalization of $847.71 billion, a P/E ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Glj Research reiterated a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Robert W. Baird reduced their target price on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Stifel Nicolaus decreased their price target on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Bank of America cut their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Benchmark initiated coverage on Tesla in a research note on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Nine analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $318.34.

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.