RFG Advisory LLC Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

RFG Advisory LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 39.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,291 shares of the electric vehicle producer’s stock after acquiring an additional 5,709 shares during the period. RFG Advisory LLC’s holdings in Tesla were worth $8,194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock valued at $15,469,792,000 after buying an additional 1,022,589 shares in the last quarter. FMR LLC grew its stake in Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after acquiring an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tesla by 13.7% in the 3rd 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 acquiring an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after purchasing an additional 301,968 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $406.58 on Monday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a market cap of $1.31 trillion, a P/E ratio of 111.39, a PEG ratio of 8.42 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock’s 50-day moving average is $398.82 and its 200 day moving average is $294.26.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,886 shares of company stock worth $212,451,751 in the last 90 days. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Canaccord Genuity Group boosted their target price on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. HSBC restated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. 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 research note on Tuesday, January 21st. Finally, New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research report on Monday, January 6th. Eight analysts have rated the stock with a sell rating, fourteen have assigned 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, the stock presently has an average rating of “Hold” and a consensus price target of $313.84.

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.