GKV Capital Management Co. Inc. Purchases Shares of 1,600 Tesla, Inc. (NASDAQ:TSLA)

GKV Capital Management Co. Inc. acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,600 shares of the electric vehicle producer’s stock, valued at approximately $646,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank bought a new position in Tesla in the 4th quarter valued at about $14,420,248,000. FMR LLC increased its stake in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Tesla by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer’s stock worth $6,996,871,000 after buying an additional 780,026 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Down 4.9 %

TSLA stock opened at $241.55 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $776.95 billion, a PE ratio of 118.41, a PEG ratio of 5.86 and a beta of 2.58. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The company has a fifty day simple moving average of $277.86 and a 200 day simple moving average of $322.47.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates 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 anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Guggenheim dropped their price objective on Tesla from $175.00 to $170.00 and set a “sell” rating on the stock in a research note on Wednesday, March 12th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Barclays lifted their target price on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 15th. Finally, Truist Financial reduced their price objective on shares of Tesla from $373.00 to $280.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. Nine investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $292.18.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 75,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is owned by 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.