Robertson Stephens Wealth Management LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Robertson Stephens Wealth Management LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,921 shares of the electric vehicle producer’s stock after purchasing an additional 561 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Tesla were worth $3,956,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Tesla by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after purchasing an additional 3,453,078 shares in the last quarter. Morgan Stanley boosted its holdings in Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. FMR LLC grew its stake in shares of Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after acquiring an additional 269,182 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Tesla by 3.4% during the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after acquiring an additional 909,170 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Tesla by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,697,074 shares of the electric vehicle producer’s stock worth $3,677,502,000 after purchasing an additional 496,299 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA stock traded down $1.01 during trading hours on Thursday, hitting $178.98. 38,840,489 shares of the company’s stock were exchanged, compared to its average volume of 104,382,102. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The firm has a market cap of $570.80 billion, a P/E ratio of 45.57, a P/E/G ratio of 4.98 and a beta of 2.40. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $174.41 and a two-hundred day moving average of $206.11.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 3rd. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Wednesday, April 24th. The Goldman Sachs Group dropped their price target on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Truist Financial reduced their price objective on Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. Finally, Sanford C. Bernstein decreased their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a report on Tuesday, March 26th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $185.90.

Insider Buying and Selling

In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,098 shares of company stock valued at $38,802,534. 25.10% of the stock is owned by corporate insiders.

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.