Ferguson Wellman Capital Management Inc. Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Ferguson Wellman Capital Management Inc. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,889 shares of the electric vehicle producer’s stock after acquiring an additional 400 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Tesla were worth $10,859,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its holdings in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in Tesla by 36,790.0% during 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 during the last quarter. Assenagon Asset Management S.A. grew its holdings in Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock valued at $2,215,765,000 after buying an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Tesla by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after acquiring an additional 2,511,488 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,386 shares of company stock worth $195,995,200 over the last quarter. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a report on Thursday, January 30th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a research note on Thursday, October 24th. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research report on Monday, January 6th. Barclays lifted their price target on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Finally, Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and upped their price objective for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $326.50.

Tesla Price Performance

NASDAQ TSLA opened at $355.94 on Friday. The company has a market cap of $1.14 trillion, a PE ratio of 174.48, a P/E/G ratio of 6.22 and a beta of 2.34. The firm’s 50 day moving average price is $407.25 and its 200-day moving average price is $306.44. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts forecast that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

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.