Metis Global Partners LLC Has $75.07 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Metis Global Partners LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 8.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 185,886 shares of the electric vehicle producer’s stock after purchasing an additional 14,090 shares during the quarter. Tesla comprises 2.3% of Metis Global Partners LLC’s investment portfolio, making the stock its 7th largest holding. Metis Global Partners LLC’s holdings in Tesla were worth $75,068,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Providence First Trust Co acquired a new stake in Tesla in the 4th quarter valued at $254,000. Noble Wealth Management PBC acquired a new stake in Tesla in the 4th quarter valued at $3,441,000. Fisher Asset Management LLC grew its position in Tesla by 28.5% in the 4th quarter. Fisher Asset Management LLC now owns 22,041 shares of the electric vehicle producer’s stock valued at $8,901,000 after purchasing an additional 4,883 shares during the period. Maripau Wealth Management LLC acquired a new stake in Tesla in the 4th quarter valued at $903,000. Finally, Cobblestone Capital Advisors LLC NY grew its position in Tesla by 29.9% in the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 1,222 shares of the electric vehicle producer’s stock valued at $493,000 after purchasing an additional 281 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 4.0 %

Shares of Tesla stock opened at $293.33 on Monday. The stock’s 50-day simple moving average is $385.35 and its 200 day simple moving average is $317.51. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market capitalization of $943.49 billion, a P/E ratio of 143.79, a P/E/G ratio of 5.86 and a beta of 2.34. 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 (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share 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%. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on TSLA. Bank of America downgraded shares of Tesla from a “buy” rating to a “neutral” rating and lifted their price target for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Wedbush set a $302.80 price objective on shares of Tesla in a report on Wednesday, February 26th. Piper Sandler lifted their price objective on shares of Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. UBS Group lifted their price objective on shares of Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a report on Thursday, January 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a report on Tuesday, February 18th. Ten equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $318.77.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 403,996 shares of company stock worth $153,721,387 over the last ninety days. Company insiders own 20.70% of the company’s stock.

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.