Russell Investments Group Ltd. Purchases 242,723 Shares of Tesla, Inc. (NASDAQ:TSLA)

Russell Investments Group Ltd. boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,505,834 shares of the electric vehicle producer’s stock after acquiring an additional 242,723 shares during the period. Tesla comprises about 0.8% of Russell Investments Group Ltd.’s portfolio, making the stock its 12th largest position. Russell Investments Group Ltd.’s holdings in Tesla were worth $611,856,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Horrell Capital Management Inc. lifted its stake in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. raised its holdings in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the fourth quarter valued at about $38,000. Delos Wealth Advisors LLC grew its position in shares of Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after buying an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC bought a new position in shares of Tesla during the 4th quarter worth approximately $44,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TSLA. UBS Group cut their price target on shares of Tesla from $259.00 to $225.00 and set a “sell” rating on the stock in a report on Monday, March 10th. Guggenheim reduced their target price on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research report on Wednesday, March 12th. Robert W. Baird lowered their price target on Tesla from $440.00 to $370.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Piper Sandler lowered their target price on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Finally, Royal Bank of Canada cut their price target on shares of Tesla from $440.00 to $320.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Eight research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $312.65.

Tesla Price Performance

Tesla stock opened at $239.43 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company’s fifty day moving average price is $305.98 and its 200 day moving average price is $322.90. The stock has a market capitalization of $770.13 billion, a P/E ratio of 117.37, a P/E/G ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 477,228 shares of company stock worth $166,849,043. 20.70% of the stock is owned by corporate insiders.

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.