Howe & Rusling Inc. Purchases 61 Shares of Tesla, Inc. (NASDAQ:TSLA)

Howe & Rusling Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 7.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 863 shares of the electric vehicle producer’s stock after acquiring an additional 61 shares during the period. Howe & Rusling Inc.’s holdings in Tesla were worth $349,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AssuredPartners Investment Advisors LLC bought a new position in Tesla in the 4th quarter worth $9,607,000. NEOS Investment Management LLC boosted its stake in shares of Tesla by 12.7% in the fourth quarter. NEOS Investment Management LLC now owns 246,926 shares of the electric vehicle producer’s stock worth $99,719,000 after acquiring an additional 27,780 shares during the period. BIT Capital GmbH grew its position in shares of Tesla by 113.7% during the fourth quarter. BIT Capital GmbH now owns 451 shares of the electric vehicle producer’s stock worth $182,000 after purchasing an additional 240 shares in the last quarter. Moment Partners LLC purchased a new stake in Tesla during the 4th quarter valued at approximately $273,000. Finally, Sava Infond d.o.o. purchased a new position in shares of Tesla in the fourth quarter worth $682,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. HSBC reduced their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday. Stifel Nicolaus cut their target price on shares of Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a report on Monday, February 10th. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Finally, UBS Group dropped their price objective on shares of Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research note on Monday, March 10th. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $319.12.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 477,228 shares of company stock valued at $166,849,043. 20.70% of the stock is owned by company insiders.

Tesla Stock Up 0.4 %

TSLA stock opened at $273.13 on Friday. The stock has a market capitalization of $878.53 billion, a PE ratio of 133.89, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52 week low of $138.80 and a 52 week 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 firm has a 50 day moving average of $324.59 and a 200 day moving average of $321.35.

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%. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.