Axiom Investors LLC DE Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Axiom Investors LLC DE boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,475 shares of the electric vehicle producer’s stock after buying an additional 7,477 shares during the period. Axiom Investors LLC DE’s holdings in Tesla were worth $26,038,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TSLA. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC increased its position 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 valued at $15,469,792,000 after buying an additional 1,022,589 shares during the period. Norges Bank bought a new position in shares of Tesla in the fourth quarter valued at approximately $14,420,248,000. Charles Schwab Investment Management Inc. grew its stake in Tesla by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock valued at $6,996,871,000 after acquiring an additional 780,026 shares in the last quarter. Finally, Amundi increased its holdings in 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 acquiring an additional 159,508 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Bank of America decreased their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. The Goldman Sachs Group reiterated a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Finally, Robert W. Baird decreased their price target on shares of Tesla from $440.00 to $370.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Nine investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned 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 target price of $318.34.

Insider Buying and Selling

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

Tesla Stock Performance

Tesla stock opened at $263.55 on Monday. 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 cap of $847.71 billion, a price-to-earnings ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50. The stock’s 50 day simple moving average is $321.33 and its two-hundred day simple moving average is $323.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last issued 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 return on equity of 10.31% and a net margin of 7.26%. As a group, 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.