Lakeside Advisors INC. Buys Shares of 583 Tesla, Inc. (NASDAQ:TSLA)

Lakeside Advisors INC. purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 583 shares of the electric vehicle producer’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC boosted its holdings in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Tesla by 194.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after buying an additional 3,624,910 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 valued at $6,377,970,000 after buying an additional 2,946,763 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after buying an additional 2,511,488 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 worth $3,192,203,000 after acquiring an additional 1,294,093 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 523,386 shares of company stock valued at $195,995,200. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $337.80 on Monday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. 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 stock has a fifty day moving average price of $400.17 and a two-hundred day moving average price of $314.04. The firm has a market capitalization of $1.09 trillion, a P/E ratio of 165.59, a P/E/G ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (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%. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent analyst reports. Benchmark initiated coverage on shares of Tesla in a research note on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price objective for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research report on Tuesday, February 18th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Truist Financial raised their price objective on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Stifel Nicolaus dropped their target price on Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Ten equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $319.57.

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.