AlTi Global Inc. Acquires 11,077 Shares of Tesla, Inc. (NASDAQ:TSLA)

AlTi Global Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,691 shares of the electric vehicle producer's stock after acquiring an additional 11,077 shares during the quarter. Tesla accounts for approximately 0.5% of AlTi Global Inc.'s investment portfolio, making the stock its 29th largest position. AlTi Global Inc.'s holdings in Tesla were worth $20,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after buying an additional 1,655,203 shares during the period. Norges Bank acquired a new stake in Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC grew its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp increased its position in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $287.21 on Friday. The company has a market cap of $925.09 billion, a PE ratio of 140.79, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The business has a 50 day moving average price of $258.82 and a 200-day moving average price of $324.47.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the business posted $0.45 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TSLA shares. Royal Bank of Canada cut their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Truist Financial set a $280.00 price target on Tesla in a research note on Tuesday, April 22nd. Raymond James lowered Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Finally, UBS Group dropped their price target on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $287.46.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 75,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 1,463,220 shares of the company's stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $24,274,300. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 486,618 shares of company stock valued at $155,887,459 over the last ninety days. Corporate insiders own 20.70% of the company's stock.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.