MML Investors Services LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

MML Investors Services LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 323,614 shares of the electric vehicle producer’s stock after buying an additional 14,232 shares during the period. MML Investors Services LLC’s holdings in Tesla were worth $130,688,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. MetLife Investment Management LLC raised its holdings in Tesla by 1.6% in the 4th quarter. MetLife Investment Management LLC now owns 861,521 shares of the electric vehicle producer’s stock worth $347,917,000 after purchasing an additional 13,359 shares during the period. Norinchukin Bank The raised its stake in shares of Tesla by 6.3% during the 4th quarter. Norinchukin Bank The now owns 138,655 shares of the electric vehicle producer’s stock worth $55,994,000 after buying an additional 8,168 shares during the period. Bank of Nova Scotia Trust Co. purchased a new position in shares of Tesla during the 4th quarter valued at approximately $212,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in Tesla by 26.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 234,079 shares of the electric vehicle producer’s stock valued at $94,530,000 after acquiring an additional 48,344 shares during the period. Finally, Capital International Inc. CA raised its position in Tesla by 3.8% during the fourth quarter. Capital International Inc. CA now owns 253,836 shares of the electric vehicle producer’s stock worth $102,509,000 after acquiring an additional 9,176 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 374,228 shares of company stock worth $123,791,123. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TSLA. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price on the stock in a research report on Monday, January 6th. Wells Fargo & Company cut their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Canaccord Genuity Group restated a “buy” rating and issued a $404.00 target price on shares of Tesla in a research report on Monday, March 17th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Finally, UBS Group decreased their price objective on Tesla from $225.00 to $190.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Nine investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $292.18.

Tesla Stock Down 0.2 %

NASDAQ:TSLA opened at $241.17 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock’s fifty day moving average is $273.93 and its two-hundred day moving average is $322.72. The stock has a market capitalization of $775.71 billion, a price-to-earnings ratio of 118.22, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results 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 return on equity of 10.31% and a net margin of 7.26%. Research analysts anticipate 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.