Ameriprise Financial Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,720,635 shares of the electric vehicle producer’s stock after buying an additional 58,184 shares during the quarter. Ameriprise Financial Inc. owned about 0.18% of Tesla worth $1,431,432,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of TSLA. Contravisory Investment Management Inc. purchased a new position in shares of Tesla in the 3rd quarter valued at about $25,000. Halpern Financial Inc. boosted its stake in shares of Tesla by 1,111.1% during the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Alpha Paradigm Partners LLC acquired a new stake in shares of Tesla in the 3rd quarter worth approximately $27,000. MayTech Global Investments LLC acquired a new position in Tesla during the fourth quarter worth $30,000. Finally, Perkins Coie Trust Co boosted its position in Tesla by 72.0% during the third quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 54 shares in the last quarter. 41.87% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
TSLA has been the topic of several recent research reports. Piper Sandler decreased their price objective on shares of Tesla from $295.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 5th. Citigroup reduced their target price on Tesla from $255.00 to $224.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Truist Financial cut their price target on Tesla from $227.00 to $193.00 and set a “hold” rating for the company in a report on Thursday, January 25th. Mizuho decreased their price objective on Tesla from $310.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Finally, Edward Jones downgraded shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $219.89.
View Our Latest Stock Analysis on Tesla
Insider Activity
In other Tesla news, SVP Xiaotong Zhu sold 1,049 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $244.34, for a total transaction of $256,312.66. Following the transaction, the senior vice president now owns 61,124 shares of the company’s stock, valued at approximately $14,935,038.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 104,930 shares of the company’s stock, valued at approximately $26,232,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 1,049 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $244.34, for a total transaction of $256,312.66. Following the completion of the transaction, the senior vice president now directly owns 61,124 shares in the company, valued at approximately $14,935,038.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,928 shares of company stock worth $19,545,953. 25.10% of the stock is currently owned by corporate insiders.
Tesla Stock Up 0.4 %
NASDAQ TSLA traded up $0.76 during mid-day trading on Friday, reaching $202.64. 82,243,119 shares of the company’s stock traded hands, compared to its average volume of 96,417,248. The company has a fifty day simple moving average of $210.74 and a 200-day simple moving average of $230.41. Tesla, Inc. has a 1-year low of $152.37 and a 1-year high of $299.29. The company has a market cap of $645.37 billion, a price-to-earnings ratio of 47.02, a P/E/G ratio of 3.54 and a beta of 2.42. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. During the same period in the previous year, the business posted $1.07 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.
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.
Featured Articles
Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Tesla, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Tesla wasn’t on the list.
While Tesla currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio.
