Challenger Wealth Management Makes New $5.94 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

Challenger Wealth Management bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,700 shares of the electric vehicle producer's stock, valued at approximately $5,936,000. Tesla accounts for about 5.1% of Challenger Wealth Management's investment portfolio, making the stock its 4th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla during the 4th quarter valued at $56,600,000. Stephens Consulting LLC raised its stake in Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after purchasing an additional 891 shares during the period. Strategic Family Wealth Counselors L.L.C. raised its stake in Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after purchasing an additional 1,629 shares during the period. Harvard Management Co. Inc. acquired a new stake in Tesla during the 4th quarter valued at $8,158,000. Finally, Vontobel Holding Ltd. raised its stake in Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock valued at $130,158,000 after purchasing an additional 60,342 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLA. Bank of America dropped their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Piper Sandler set a $400.00 price target on shares of Tesla in a report on Tuesday, May 6th. Benchmark reiterated a "buy" rating and issued a $350.00 target price on shares of Tesla in a research note on Wednesday, April 23rd. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average target price of $293.97.

Tesla Stock Performance

Shares of TSLA stock traded up $23.55 on Tuesday, reaching $362.89. The stock had a trading volume of 118,443,476 shares, compared to its average volume of 97,589,424. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm's 50-day moving average is $279.40 and its two-hundred day moving average is $333.38. The firm has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 177.89, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54.

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 for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the company earned $0.45 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director now owns 85,000 shares of the company's stock, valued at approximately $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $7,242,273.50. This trade represents a 9.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,623 shares of company stock worth $116,650,831 over the last ninety days. Corporate insiders own 20.70% of the company's stock.

Tesla 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.