Choate Investment Advisors Purchases 1,862 Shares of Tesla, Inc. (NASDAQ:TSLA)

Choate Investment Advisors boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,363 shares of the electric vehicle producer’s stock after purchasing an additional 1,862 shares during the quarter. Choate Investment Advisors’ holdings in Tesla were worth $4,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. World Investment Advisors LLC raised its holdings in Tesla by 1,248.9% during the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after purchasing an additional 184,459 shares during the last quarter. Destination Wealth Management increased its stake in shares of Tesla by 12.1% in the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares during the last quarter. Stephens Consulting LLC increased its stake in shares of Tesla by 126.7% in the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after acquiring an additional 891 shares during the last quarter. Vinva Investment Management Ltd increased its stake in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after acquiring an additional 43,685 shares during the last quarter. Finally, MML Investors Services LLC increased its stake in shares of Tesla by 3.3% in the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $550.00 price target on shares of Tesla in a research note on Friday, March 7th. Stifel Nicolaus lowered their price target on Tesla from $492.00 to $474.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Glj Research reaffirmed a “buy” rating on shares of Tesla in a research note on Tuesday, March 11th. Morgan Stanley reaffirmed a “top pick” rating and issued a $430.00 price target on shares of Tesla in a research note on Monday, March 3rd. Finally, UBS Group decreased their price objective on Tesla from $259.00 to $225.00 and set a “sell” rating for the company in a research report on Monday, March 10th. Nine research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $325.65.

Tesla Stock Up 3.9 %

TSLA opened at $249.98 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The stock’s fifty day simple moving average is $351.31 and its 200 day simple moving average is $319.51. 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 stock has a market cap of $804.06 billion, a PE ratio of 122.54, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50.

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

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at $45,063,565.40. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $411.63, for a total value of $41,163,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $2,222,802. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 477,228 shares of company stock worth $166,849,043 in the last 90 days. Company insiders own 20.70% of the company’s stock.

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.