AssuredPartners Investment Advisors LLC Invests $9.61 Million in Tesla, Inc. (NASDAQ:TSLA)

AssuredPartners Investment Advisors LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 23,789 shares of the electric vehicle producer’s stock, valued at approximately $9,607,000. Tesla makes up approximately 1.9% of AssuredPartners Investment Advisors LLC’s holdings, making the stock its 7th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC increased its position in shares of 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 worth $3,497,526,000 after acquiring an additional 8,637,195 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Tesla by 55,181.0% during the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock worth $1,769,899,000 after purchasing an additional 4,374,746 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Tesla by 194.7% in the fourth 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 purchasing an additional 3,624,910 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Tesla by 1.5% during 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 buying an additional 3,571,793 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Tesla by 13.7% during the third 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 buying an additional 2,946,763 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, 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 transaction of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 over the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Stock Down 5.6 %

Shares of TSLA opened at $272.06 on Thursday. 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, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The firm’s 50 day moving average is $327.40 and its 200-day moving average is $321.69. The stock has a market capitalization of $875.09 billion, a PE ratio of 133.36, a P/E/G ratio of 5.86 and a beta of 2.50.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Mizuho decreased their target price on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Robert W. Baird reduced their price objective on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Benchmark started coverage on Tesla in a research report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $318.93.

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.