Strategic Wealth Partners Ltd. Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Strategic Wealth Partners Ltd. grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,245 shares of the electric vehicle producer's stock after buying an additional 1,272 shares during the quarter. Strategic Wealth Partners Ltd.'s holdings in Tesla were worth $2,926,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Tesla in the 4th quarter valued at approximately $14,420,248,000. FMR LLC lifted its holdings in shares of Tesla by 40.1% in the 4th 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 period. Strategic Financial Concepts LLC boosted its stake in shares of Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares during the period. Finally, Northern Trust Corp raised its position in Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Up 2.1%

NASDAQ TSLA opened at $349.98 on Friday. The company has a market cap of $1.13 trillion, a P/E ratio of 171.56, 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. 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 company has a 50-day moving average of $267.35 and a 200-day moving average of $330.09.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS 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 analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the company posted $0.45 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $300.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $8,085,000. The trade was a 12.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 412,623 shares of company stock worth $115,600,501 in the last ninety days. Insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Wedbush restated an "outperform" rating and set a $350.00 target price on shares of Tesla in a research report on Thursday, May 1st. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and lifted their price target for the company from $180.00 to $388.00 in a research report on Friday, March 7th. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Finally, UBS Group reduced their price objective on Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $289.43.

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.

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