Next Century Growth Investors LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Next Century Growth Investors LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 175.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,931 shares of the electric vehicle producer's stock after purchasing an additional 12,047 shares during the period. Next Century Growth Investors LLC's holdings in Tesla were worth $7,645,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC boosted its holdings in Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after buying an additional 1,655,203 shares during the last quarter. Norges Bank purchased a new stake in Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC lifted its position in shares of Tesla by 40.1% in 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 acquiring an additional 9,920,325 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Tesla by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer's stock worth $6,996,871,000 after purchasing an additional 780,026 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TSLA shares. Piper Sandler lowered their target price on shares of Tesla from $450.00 to $400.00 and set an "overweight" rating on the stock in a research note on Wednesday. Wells Fargo & Company cut their price objective on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. The Goldman Sachs Group lowered their price objective on Tesla from $320.00 to $275.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, New Street Research raised shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price target on the stock in a research report on Monday, January 6th. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $297.03.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company's stock, valued at $41,745,581.15. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,228 shares of company stock valued at $123,791,123 over the last ninety days. Insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $8.20 during midday trading on Wednesday, hitting $245.91. 49,787,170 shares of the company's stock were exchanged, compared to its average volume of 95,779,305. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $790.97 billion, a price-to-earnings ratio of 120.54, a PEG ratio of 5.86 and a beta of 2.58. The business's fifty day moving average price is $280.27 and its two-hundred day moving average price is $323.03.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.