Allspring Global Investments Holdings LLC Purchases 9,797 Shares of Tesla, Inc. (NASDAQ:TSLA)

Allspring Global Investments Holdings LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 289,617 shares of the electric vehicle producer’s stock after acquiring an additional 9,797 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Tesla were worth $109,846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Jmac Enterprises LLC raised its stake in Tesla by 0.7% during the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock valued at $1,569,000 after purchasing an additional 26 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in shares of Tesla by 3.0% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 8,771 shares of the electric vehicle producer’s stock valued at $3,542,000 after buying an additional 259 shares in the last quarter. Great Lakes Retirement Inc. purchased a new position in Tesla in the fourth quarter worth about $291,000. Kentucky Trust Co bought a new stake in Tesla during the fourth quarter worth approximately $145,000. Finally, Gladstone Institutional Advisory LLC raised its position in Tesla by 18.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 51,481 shares of the electric vehicle producer’s stock valued at $20,790,000 after purchasing an additional 8,104 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Down 0.0 %

Shares of TSLA stock opened at $355.84 on Friday. The stock’s fifty day moving average price is $406.31 and its 200 day moving average price is $307.64. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a market cap of $1.14 trillion, a price-to-earnings ratio of 174.43, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its quarterly 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 10.31% and a net margin of 7.26%. On average, research analysts expect that Tesla, Inc. will post 2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group boosted their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their target price 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. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday, January 6th. Piper Sandler increased their price objective on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Wedbush boosted their target price on Tesla from $515.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $326.50.

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.