Park Avenue Securities LLC Has $34.99 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Park Avenue Securities LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,637 shares of the electric vehicle producer’s stock after buying an additional 16,426 shares during the quarter. Park Avenue Securities LLC’s holdings in Tesla were worth $34,988,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Connable Office Inc. lifted its stake in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after purchasing an additional 38 shares during the last quarter. Community Bank N.A. raised its holdings in shares of Tesla by 4.4% during the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after buying an additional 38 shares in the last quarter. Holistic Financial Partners lifted its position in shares of Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after buying an additional 40 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc boosted its stake in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares in the last quarter. Finally, Altman Advisors Inc. grew its position in Tesla by 0.4% in the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the 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 completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $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 ninety days, insiders sold 621,886 shares of company stock valued at $213,451,751. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Glj Research reissued a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Friday, January 3rd. Morgan Stanley boosted their target price on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Monday. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a report on Thursday, October 24th. Finally, HSBC reissued a “reduce” rating and set a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $299.33.

Tesla Stock Performance

NASDAQ TSLA opened at $428.22 on Thursday. The company has a market cap of $1.37 trillion, a P/E ratio of 117.32, a PEG ratio of 6.53 and a beta of 2.30. The company has a fifty day simple moving average of $382.71 and a 200 day simple moving average of $284.69. 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 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) 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 firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the company earned $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Tesla Company 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.