Main Street Research LLC Has $6.45 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Main Street Research LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,968 shares of the electric vehicle producer’s stock after buying an additional 2,062 shares during the period. Main Street Research LLC’s holdings in Tesla were worth $6,449,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Swedbank AB increased its stake in Tesla by 2.8% in the third quarter. Swedbank AB now owns 1,098,717 shares of the electric vehicle producer’s stock valued at $287,457,000 after purchasing an additional 29,669 shares in the last quarter. Principal Financial Group Inc. increased its position in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after buying an additional 194,796 shares in the last quarter. Equitable Trust Co. raised its stake in Tesla by 78.7% during the 3rd quarter. Equitable Trust Co. now owns 8,950 shares of the electric vehicle producer’s stock worth $2,342,000 after buying an additional 3,943 shares during the period. United Bank bought a new position in Tesla in the third quarter worth approximately $287,000. Finally, First Personal Financial Services acquired a new stake in Tesla in the third quarter valued at approximately $81,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TSLA shares. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Monday, February 10th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. 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. Finally, Barclays increased their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Nine equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $327.37.

Insiders Place Their Bets

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 422,452 shares of company stock worth $153,659,530 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Tesla stock opened at $262.67 on Monday. The business has a fifty day moving average price of $367.78 and a 200-day moving average price of $319.38. The firm has a market capitalization of $844.88 billion, a P/E ratio of 128.76, a PEG ratio of 5.86 and a beta of 2.50. 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, Inc. has a one year low of $138.80 and a one year high of $488.54.

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, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.