402,585 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, Holdings Channel reports. The fund purchased 402,585 shares of the electric vehicle producer’s stock, valued at approximately $162,580,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after buying an additional 3,571,793 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Tesla by 1.8% during the third 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 in the last quarter. Norges Bank bought a new position in Tesla during the fourth quarter worth about $14,420,248,000. Charles Schwab Investment Management Inc. raised 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 grew its position in shares of Tesla by 1.2% during 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 institutional investors.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock worth $166,849,043 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $263.55 on Monday. The business has a 50-day moving average price of $321.33 and a two-hundred day moving average price of $323.01. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $847.71 billion, a P/E ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on TSLA. Bank of America cut their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft dropped their price target on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research note on Friday. Canaccord Genuity Group restated a “buy” rating and issued a $404.00 target price on shares of Tesla in a research report on Monday, March 17th. Barclays upped their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Finally, Morgan Stanley lowered their price objective on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $318.34.

About Tesla

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.