Ethic Inc. Buys 48,815 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ethic Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 50.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 145,072 shares of the electric vehicle producer's stock after acquiring an additional 48,815 shares during the quarter. Tesla accounts for approximately 1.2% of Ethic Inc.'s holdings, making the stock its 10th biggest holding. Ethic Inc.'s holdings in Tesla were worth $58,586,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Ewing Morris & Co. Investment Partners Ltd. purchased a new position in shares of Tesla in the fourth quarter worth $787,000. First Manhattan CO. LLC. raised its stake in shares of Tesla by 14.5% during the fourth quarter. First Manhattan CO. LLC. now owns 4,057 shares of the electric vehicle producer's stock valued at $1,638,000 after acquiring an additional 513 shares during the last quarter. Fiduciary Trust Co boosted its holdings in shares of Tesla by 5.4% during the fourth quarter. Fiduciary Trust Co now owns 11,162 shares of the electric vehicle producer's stock worth $4,508,000 after purchasing an additional 568 shares during the period. FORA Capital LLC purchased a new position in Tesla during the 4th quarter valued at about $9,003,000. Finally, Fred Alger Management LLC raised its position in Tesla by 62.6% during the 4th quarter. Fred Alger Management LLC now owns 1,179,293 shares of the electric vehicle producer's stock valued at $476,246,000 after purchasing an additional 454,011 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Up 4.6 %

Shares of NASDAQ:TSLA traded up $13.23 during trading on Friday, hitting $298.05. 132,028,653 shares of the company were exchanged, compared to its average volume of 96,242,957. The firm's 50 day moving average price is $258.65 and its 200-day moving average price is $327.43. The stock has a market capitalization of $960.01 billion, a P/E ratio of 146.10, 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 company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the business earned $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the sale, the chief financial officer now directly owns 23,084 shares of the company's stock, valued at approximately $6,833,325.68. This trade represents a 20.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,623 shares of company stock worth $114,400,501 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler set a $400.00 price objective on Tesla in a research report on Tuesday. Roth Mkm decreased their target price on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Raymond James downgraded Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of "Hold" and an average price target of $287.46.

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.