AssuredPartners Investment Advisors LLC Buys Shares of 23,789 Tesla, Inc. (NASDAQ:TSLA)

AssuredPartners Investment Advisors LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 23,789 shares of the electric vehicle producer’s stock, valued at approximately $9,607,000. Tesla makes up approximately 1.9% of AssuredPartners Investment Advisors LLC’s portfolio, making the stock its 7th biggest position.

A number of other hedge funds have also made changes to their positions in the stock. World Investment Advisors LLC boosted its holdings in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after acquiring an additional 184,459 shares during the period. Destination Wealth Management boosted its stake in Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after purchasing an additional 1,359 shares during the period. Stephens Consulting LLC grew its holdings in Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after buying an additional 891 shares during the last quarter. Vinva Investment Management Ltd increased its position in Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after buying an additional 43,685 shares during the period. Finally, MML Investors Services LLC lifted its holdings in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock worth $80,944,000 after buying an additional 9,919 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $272.06 on Thursday. 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 firm has a 50 day simple moving average of $327.40 and a 200 day simple moving average of $321.69. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market cap of $875.09 billion, a P/E ratio of 133.36, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA) last released its earnings results 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 net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total transaction of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $32,643,400. The trade was a 56.94 % 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 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Royal Bank of Canada lowered their price objective 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. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Mizuho cut their price objective on shares of Tesla from $515.00 to $430.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a research report on Monday, March 3rd. Finally, Glj Research reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday, March 11th. Nine research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $318.93.

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.