Sei Investments Co. Grows Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sei Investments Co. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 24.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,035,288 shares of the electric vehicle producer’s stock after buying an additional 203,370 shares during the quarter. Tesla makes up about 0.5% of Sei Investments Co.’s holdings, making the stock its 28th biggest holding. Sei Investments Co.’s holdings in Tesla were worth $418,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Tesla by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares during the period. FMR LLC boosted its stake in Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 worth $6,377,970,000 after purchasing an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tesla by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock worth $6,996,871,000 after purchasing an additional 780,026 shares in the last quarter. Finally, Amundi boosted its stake in Tesla by 1.2% in the 4th quarter. Amundi now owns 12,957,272 shares of the electric vehicle producer’s stock worth $5,117,345,000 after purchasing an additional 159,508 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Truist Financial upped their price target on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Bank of America dropped their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Royal Bank of Canada lowered their target price on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research note on Tuesday. Robert W. Baird lowered their target price on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Evercore ISI upped their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $318.93.

Insider Activity

In related news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is currently owned by insiders.

Tesla Trading Up 5.3 %

Shares of TSLA opened at $248.71 on Friday. 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 1 year low of $138.80 and a 1 year high of $488.54. The company has a 50 day simple moving average of $335.19 and a two-hundred day simple moving average of $319.68. The firm has a market cap of $799.98 billion, a P/E ratio of 121.92, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

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