Shell Asset Management Co. Purchases 11,494 Shares of Tesla, Inc. (NASDAQ:TSLA)

Shell Asset Management Co. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 13.2% during the fourth quarter, Holdings Channel reports. The firm owned 98,538 shares of the electric vehicle producer’s stock after acquiring an additional 11,494 shares during the period. Tesla makes up approximately 1.7% of Shell Asset Management Co.’s portfolio, making the stock its 7th largest position. Shell Asset Management Co.’s holdings in Tesla were worth $39,794,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TSLA. Rafferty Asset Management LLC boosted its stake in shares of Tesla by 55.4% in the fourth quarter. Rafferty Asset Management LLC now owns 2,945,331 shares of the electric vehicle producer’s stock worth $1,189,442,000 after buying an additional 1,050,119 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Tesla in the fourth quarter worth about $10,501,000. Ratan Capital Management LP purchased a new stake in shares of Tesla in the fourth quarter worth about $70,433,000. Redwood Investment Management LLC boosted its stake in shares of Tesla by 43.3% in the fourth quarter. Redwood Investment Management LLC now owns 4,066 shares of the electric vehicle producer’s stock worth $1,642,000 after buying an additional 1,229 shares during the last quarter. Finally, Quadcap Wealth Management LLC boosted its stake in shares of Tesla by 6.1% in the fourth quarter. Quadcap Wealth Management LLC now owns 15,891 shares of the electric vehicle producer’s stock worth $6,417,000 after buying an additional 915 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Oppenheimer restated a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Bank of America lowered their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. BNP Paribas set a $137.00 price target on Tesla and gave the stock an “underperform” rating in a research report on Wednesday, April 16th. Morgan Stanley reiterated a “buy” rating and set a $430.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Finally, Cfra Research downgraded Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $287.46.

Tesla Trading Down 1.4%

TSLA opened at $342.82 on Friday. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 168.05, a PEG ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a fifty day moving average price of $264.96 and a 200 day moving average price of $328.97.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the firm earned $0.45 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $25,466,850. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 412,623 shares of company stock valued at $115,600,501 in the last three months. 20.70% of the stock is currently owned by company insiders.

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.