Prospect Financial Services LLC Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Prospect Financial Services LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,500 shares of the electric vehicle producer’s stock after purchasing an additional 26 shares during the period. Tesla makes up approximately 1.7% of Prospect Financial Services LLC’s portfolio, making the stock its 21st biggest holding. Prospect Financial Services LLC’s holdings in Tesla were worth $3,029,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TSLA. Geode Capital Management LLC raised its position in shares of Tesla by 1.8% in 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 acquiring an additional 1,022,589 shares during the period. FMR LLC raised its holdings 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Tesla by 13.7% during the third 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. grew its holdings in Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after purchasing an additional 301,968 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after buying an additional 1,294,093 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of a number of research analyst reports. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Piper Sandler increased their target price on Tesla from $315.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, HSBC reaffirmed a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Nine investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $318.31.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated 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 sale, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 553,386 shares of company stock worth $196,305,796. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 1.1 %

Shares of NASDAQ:TSLA opened at $404.60 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. 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 $1.30 trillion, a price-to-earnings ratio of 198.33, a price-to-earnings-growth ratio of 8.08 and a beta of 2.30. The firm’s 50 day moving average price is $403.18 and its 200 day moving average price is $297.99.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. As a group, equities research analysts predict that Tesla, Inc. will post 2.82 earnings per share for the current fiscal year.

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.