Invesco Ltd. Acquires 774,383 Shares of Tesla, Inc. (NASDAQ:TSLA)

Invesco Ltd. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,575,114 shares of the electric vehicle producer’s stock after acquiring an additional 774,383 shares during the period. Tesla accounts for about 0.9% of Invesco Ltd.’s portfolio, making the stock its 8th largest holding. Invesco Ltd. owned approximately 0.39% of Tesla worth $5,078,334,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TSLA. Horrell Capital Management Inc. grew its stake in 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 buying an additional 34 shares during the last quarter. GS Investments Inc. increased its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the fourth quarter valued at $38,000. Delos Wealth Advisors LLC raised its holdings in Tesla by 300.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after acquiring an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new stake in Tesla in the fourth quarter valued at approximately $44,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 10.4 %

Tesla stock opened at $239.43 on Monday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $305.98 and a 200-day moving average of $324.24. 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 quarterly 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%. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on TSLA. JPMorgan Chase & Co. lowered their price objective on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Bank of America lowered their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Oppenheimer reissued a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Royal Bank of Canada cut their target price 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. Finally, Wedbush restated an “outperform” rating and issued a $550.00 price objective on shares of Tesla in a report on Thursday, March 27th. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $312.65.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. This represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 370,228 shares of company stock worth $122,791,123 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Tesla 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.