Hohimer Wealth Management LLC Purchases 5,707 Shares of Tesla, Inc. (NASDAQ:TSLA)

Hohimer Wealth Management LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 201.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,535 shares of the electric vehicle producer’s stock after purchasing an additional 5,707 shares during the period. Hohimer Wealth Management LLC’s holdings in Tesla were worth $2,264,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in shares of Tesla by 200.2% in the 3rd quarter. Jennison Associates LLC now owns 29,557,607 shares of the electric vehicle producer’s stock valued at $7,840,155,000 after acquiring an additional 19,711,687 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Tesla by 196.4% in the 3rd quarter. Baillie Gifford & Co. now owns 27,876,833 shares of the electric vehicle producer’s stock valued at $7,394,330,000 after acquiring an additional 18,472,529 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Tesla by 189.0% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,366,820 shares of the electric vehicle producer’s stock valued at $2,484,549,000 after acquiring an additional 6,125,732 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Tesla by 105.0% in the 3rd quarter. SG Americas Securities LLC now owns 105,194 shares of the electric vehicle producer’s stock valued at $27,903,000 after acquiring an additional 2,209,304 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Tesla by 217.2% in the 3rd quarter. New York State Teachers Retirement System now owns 3,159,080 shares of the electric vehicle producer’s stock valued at $837,946,000 after acquiring an additional 2,163,098 shares in the last quarter. Institutional investors own 43.00% of the company’s stock.

Tesla Stock Up 0.1 %

NASDAQ TSLA opened at $143.89 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 1-year low of $101.81 and a 1-year high of $384.29. The company has a 50 day moving average of $148.77 and a 200-day moving average of $220.41. The company has a market cap of $454.37 billion, a price-to-earnings ratio of 44.46, a PEG ratio of 1.18 and a beta of 2.02.

Insider Activity at Tesla

In related news, CAO Vaibhav Taneja sold 3,768 shares of Tesla stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $178.07, for a total value of $670,967.76. Following the transaction, the chief accounting officer now directly owns 95,785 shares of the company’s stock, valued at $17,056,434.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Zachary Kirkhorn sold 3,752 shares of Tesla stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total value of $410,131.12. Following the transaction, the chief financial officer now directly owns 200,411 shares of the company’s stock, valued at $21,906,926.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Vaibhav Taneja sold 3,768 shares of the business’s stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total transaction of $670,967.76. Following the sale, the chief accounting officer now directly owns 95,785 shares in the company, valued at approximately $17,056,434.95. The disclosure for this sale can be found here. Insiders have sold 24,172,833 shares of company stock valued at $4,492,567,309 over the last three months. 25.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TSLA shares. Wolfe Research decreased their price objective on Tesla from $360.00 to $288.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. Citigroup decreased their price objective on Tesla from $176.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, January 13th. Evercore ISI cut their target price on shares of Tesla from $300.00 to $200.00 and set an “in-line” rating for the company in a research note on Tuesday, December 20th. Royal Bank of Canada cut their target price on shares of Tesla from $225.00 to $186.00 in a research note on Tuesday, January 3rd. Finally, Daiwa Capital Markets cut their target price on shares of Tesla from $240.00 to $177.00 and set an “outperform” rating for the company in a research note on Tuesday, December 20th. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $216.60.

About Tesla

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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.

Further Reading

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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