Udine Wealth Management Inc. Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Udine Wealth Management Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,833 shares of the electric vehicle producer’s stock after buying an additional 338 shares during the period. Tesla comprises 2.6% of Udine Wealth Management Inc.’s holdings, making the stock its 10th biggest holding. Udine Wealth Management Inc.’s holdings in Tesla were worth $3,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its holdings in Tesla by 35,611.2% during the 3rd 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 acquiring an additional 11,023,436 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Tesla by 194.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after purchasing an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 valued at $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Wellington Management Group LLP raised its stake in Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after buying an additional 2,511,488 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after buying an additional 1,479,378 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on TSLA. Stifel Nicolaus boosted their price target on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research report on Monday, January 6th. Royal Bank of Canada lifted their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Canaccord Genuity Group raised their target price on shares of Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and upped their price target for the stock 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, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $299.33.

Tesla Stock Performance

NASDAQ:TSLA opened at $426.50 on Tuesday. The company has a fifty day moving average of $389.94 and a two-hundred day moving average of $288.78. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The stock has a market capitalization of $1.37 trillion, a PE ratio of 116.85, a P/E/G ratio of 6.53 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the firm posted $0.53 EPS. Tesla’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Tesla, Inc. will post 1.99 earnings per share 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.