Tilt Investment Management Holdings PBC Buys Shares of 11,283 Tesla, Inc. (NASDAQ:TSLA)

Tilt Investment Management Holdings PBC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,283 shares of the electric vehicle producer’s stock, valued at approximately $2,804,000. Tesla makes up 3.0% of Tilt Investment Management Holdings PBC’s investment portfolio, making the stock its 5th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Tesla during the 4th quarter valued at about $3,459,540,000. Moneta Group Investment Advisors LLC grew its stake in Tesla by 180,125.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after acquiring an additional 26,836,879 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Tesla by 203.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock valued at $5,360,358,000 after acquiring an additional 13,558,882 shares in the last quarter. International Assets Investment Management LLC grew its stake in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after acquiring an additional 6,179,032 shares in the last quarter. Finally, Morgan Stanley grew its stake in Tesla by 26.3% during the 4th quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after acquiring an additional 5,292,464 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Sanford C. Bernstein lowered their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 26th. Truist Financial lowered their target price on Tesla from $193.00 to $176.00 and set a “hold” rating on the stock in a research note on Wednesday, April 3rd. Daiwa Capital Markets cut Tesla from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Wedbush lowered their price target on Tesla from $315.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, March 28th. Finally, HSBC decreased their target price on Tesla from $143.00 to $138.00 and set a “reduce” rating for the company in a research report on Wednesday, April 3rd. Ten investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $194.70.

Tesla Stock Down 3.4 %

Shares of NASDAQ TSLA traded down $5.29 during mid-day trading on Thursday, reaching $150.16. 78,309,398 shares of the company’s stock were exchanged, compared to its average volume of 101,580,539. The firm has a market capitalization of $478.23 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 4.15 and a beta of 2.39. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $180.24 and a 200 day simple moving average of $212.64. Tesla, Inc. has a twelve month low of $148.70 and a twelve month high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The business had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same period in the prior year, the business earned $1.07 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is owned by 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.