Lazard Asset Management LLC Buys 74,046 Shares of Tesla, Inc. (NASDAQ:TSLA)

Lazard Asset Management LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 45.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 236,938 shares of the electric vehicle producer's stock after purchasing an additional 74,046 shares during the quarter. Lazard Asset Management LLC's holdings in Tesla were worth $95,684,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Norges Bank purchased a new position in shares of Tesla during the fourth quarter valued at approximately $14,420,248,000. FMR LLC boosted 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. Strategic Financial Concepts LLC grew its stake in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after acquiring an additional 8,637,195 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp lifted 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 purchasing an additional 5,075,418 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent analyst reports. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and upped their price objective for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Argus set a $410.00 target price on Tesla in a report on Thursday, April 24th. Truist Financial set a $280.00 price target on Tesla in a report on Tuesday, April 22nd. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Finally, Raymond James cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $287.46.

Tesla Price Performance

Shares of TSLA stock traded down $4.86 on Thursday, reaching $342.82. The company's stock had a trading volume of 97,570,410 shares, compared to its average volume of 96,795,965. The company has a market capitalization of $1.10 trillion, a P/E ratio of 168.05, a PEG 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 stock's 50 day simple moving average is $262.55 and its 200-day simple moving average is $328.41. 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 (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the previous year, the business earned $0.45 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $25,466,850. The trade was a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the transaction, the chief financial officer now directly owns 23,084 shares in the company, valued at approximately $6,833,325.68. This represents a 20.63% 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 over the last three months. 20.70% of the stock is owned by insiders.

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.