Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 194.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,486,739 shares of the electric vehicle producer’s stock after purchasing an additional 3,624,910 shares during the quarter. Tesla accounts for approximately 3.6% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 3rd biggest position. Assenagon Asset Management S.A.’s holdings in Tesla were worth $2,215,765,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter worth $29,000. Clean Yield Group increased its holdings in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Peterson Financial Group Inc. bought a new position in shares of Tesla in the 3rd quarter valued at $35,000. Finally, M&R Capital Management Inc. grew its position in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on TSLA shares. Barclays increased their target price on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research report on Wednesday. Canaccord Genuity Group raised their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group boosted their target price on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Piper Sandler raised their price target on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $299.33.

Tesla Stock Up 8.0 %

Shares of NASDAQ TSLA opened at $428.22 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The stock has a market capitalization of $1.37 trillion, a P/E ratio of 117.32, a P/E/G ratio of 10.80 and a beta of 2.30. The company has a 50-day moving average price of $382.71 and a 200-day moving average price of $284.69.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the company posted $0.53 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

About Tesla

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.