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

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

A number of other hedge funds also recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla in the 4th quarter worth about $56,600,000. Stephens Consulting LLC increased its holdings in shares of Tesla by 126.7% in 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. increased its stake in Tesla by 133.7% in 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 buying an additional 1,629 shares during the period. Harvard Management Co. Inc. acquired a new position in Tesla in the 4th quarter valued at approximately $8,158,000. Finally, Vontobel Holding Ltd. increased its stake in shares of Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after acquiring an additional 60,342 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TSLA shares. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Glj Research reissued a "sell" rating and set a $19.05 price objective (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. HSBC lowered their price objective on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a report on Thursday, March 27th. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Ten investment 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, the stock has a consensus rating of "Hold" and a consensus price target of $293.97.

Tesla Price Performance

Shares of Tesla stock traded up $4.58 during trading on Thursday, hitting $361.48. 51,415,598 shares of the company's stock traded hands, compared to its average volume of 97,540,137. 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 firm's fifty day moving average price is $284.09 and its 200 day moving average price is $333.75. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a market cap of $1.16 trillion, a PE ratio of 177.31, a PEG ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates 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 firm posted $0.45 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,623 shares of company stock valued at $116,650,831 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

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.