Cascades Capital Asset Management LLC Buys 50 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cascades Capital Asset Management LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,392 shares of the electric vehicle producer’s stock after purchasing an additional 50 shares during the quarter. Cascades Capital Asset Management LLC’s holdings in Tesla were worth $562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after buying an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank acquired a new stake in shares of Tesla in the fourth quarter valued at about $14,420,248,000. Charles Schwab Investment Management Inc. increased its stake in shares of Tesla by 4.7% in the fourth 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 during the period. Finally, Amundi lifted 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 during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $239.43 on Friday. The company has a 50 day moving average price of $305.98 and a 200 day moving average price of $322.90. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $770.13 billion, a PE ratio of 117.37, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

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

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 transaction, the chief financial officer now owns 108,965 shares in the company, valued at $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 three months, insiders have sold 477,228 shares of company stock worth $166,849,043. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company dropped their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $404.00 target price on shares of Tesla in a research report on Monday, March 17th. Glj Research reissued a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Piper Sandler dropped their price objective on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Finally, Evercore ISI upped their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Eight research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $312.65.

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.