Shell Asset Management Co. Has $39.79 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Shell Asset Management Co. boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,538 shares of the electric vehicle producer's stock after purchasing an additional 11,494 shares during the quarter. Tesla makes up 1.7% of Shell Asset Management Co.'s portfolio, making the stock its 7th biggest position. Shell Asset Management Co.'s holdings in Tesla were worth $39,794,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Tesla by 2.8% during the fourth 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 buying an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new stake in shares of Tesla during the fourth quarter valued at $14,420,248,000. FMR LLC boosted its position 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 boosted 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 buying an additional 5,075,418 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $300.00, for a total value of $1,200,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $8,085,000. The trade was a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 412,623 shares of company stock valued at $115,600,501. Corporate insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research report on Friday, March 14th. Royal Bank of Canada lowered their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Guggenheim reissued a "sell" rating and set a $170.00 target price on shares of Tesla in a research note on Thursday, April 24th. Finally, Cantor Fitzgerald decreased their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Ten 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, Tesla presently has an average rating of "Hold" and a consensus price target of $287.46.

Tesla Price Performance

Shares of TSLA stock opened at $342.82 on Friday. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 168.05, a P/E/G ratio of 5.86 and a beta of 2.43. The stock has a fifty day simple moving average of $264.96 and a two-hundred day simple moving average of $328.97. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its 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 return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, analysts predict 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.

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