Castlekeep Investment Advisors LLC Takes $17.78 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Castlekeep Investment Advisors LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 44,019 shares of the electric vehicle producer's stock, valued at approximately $17,777,000. Tesla makes up approximately 2.9% of Castlekeep Investment Advisors LLC's investment portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. raised its position in shares of 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 during the last quarter. Geode Capital Management LLC increased its stake in Tesla by 2.8% during the 4th 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 purchasing an additional 1,655,203 shares in the last quarter. Norges Bank purchased a new position in Tesla in the fourth quarter worth about $14,420,248,000. FMR LLC grew its holdings in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Tesla by 21.6% during the fourth 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 in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on TSLA. Benchmark reaffirmed a "buy" rating and issued a $350.00 price objective on shares of Tesla in a research report on Wednesday, April 23rd. Cowen raised Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Wedbush reiterated an "outperform" rating and issued a $500.00 price objective (up from $350.00) on shares of Tesla in a report on Friday. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Finally, Piper Sandler set a $400.00 target price on shares of Tesla in a report on Tuesday, May 6th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus target price of $293.97.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business'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 transaction of $33,673,167.90. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $25,466,850. The trade was a 56.94% 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 James R. Murdoch sold 54,776 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company's stock, valued at $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,623 shares of company stock valued at $116,650,831 over the last three months. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $23.55 during mid-day trading on Tuesday, hitting $362.89. 117,845,854 shares of the company's stock traded hands, compared to its average volume of 97,580,735. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company's 50-day moving average is $279.40 and its two-hundred day moving average is $333.38. The company has a market capitalization of $1.17 trillion, a P/E ratio of 177.89, a PEG ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during 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 period in the previous year, the business earned $0.45 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS 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.