Bay Rivers Group Has $1.42 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Bay Rivers Group lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,509 shares of the electric vehicle producer’s stock after buying an additional 110 shares during the period. Bay Rivers Group’s holdings in Tesla were worth $1,417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. World Investment Advisors LLC raised its holdings in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after purchasing an additional 184,459 shares during the period. Destination Wealth Management increased its position in Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after buying an additional 1,359 shares in the last quarter. Vinva Investment Management Ltd boosted its holdings in Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after acquiring an additional 43,685 shares in the last quarter. MML Investors Services LLC grew its stake in Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after acquiring an additional 1,741 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on TSLA shares. JPMorgan Chase & Co. lifted their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Canaccord Genuity Group lifted their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday. Finally, Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $318.31.

Insider Activity

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated 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 owns 108,965 shares in the company, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 553,386 shares of company stock worth $196,305,796 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $400.28 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock’s 50-day simple moving average is $401.98 and its 200 day simple moving average is $297.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 109.67, a price-to-earnings-growth ratio of 8.42 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last released 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 net margin of 13.07% and a return on equity of 10.24%. Research analysts forecast that Tesla, Inc. will post 2.01 EPS for the current fiscal year.

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.