Miracle Mile Advisors LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Miracle Mile Advisors LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 47.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 36,819 shares of the electric vehicle producer’s stock after buying an additional 11,865 shares during the period. Miracle Mile Advisors LLC’s holdings in Tesla were worth $14,869,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Tesla by 1.8% during the third quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after purchasing an additional 1,022,589 shares in the last quarter. FMR LLC grew its position in Tesla by 3.5% in the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after buying an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after purchasing an additional 301,968 shares during the period. Finally, Jennison Associates LLC raised its position in Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after acquiring an additional 1,294,093 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction 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 owns 5,400 shares in the company, valued at approximately $2,222,802. This represents a 94.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 621,886 shares of company stock worth $213,451,751 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Up 2.2 %

NASDAQ:TSLA opened at $403.31 on Tuesday. The firm has a market capitalization of $1.29 trillion, a PE ratio of 110.50, a price-to-earnings-growth ratio of 10.80 and a beta of 2.30. The stock has a 50 day moving average of $379.81 and a 200-day moving average of $283.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the business earned $0.53 earnings per share. Tesla’s revenue was up 7.8% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on TSLA shares. Royal Bank of Canada increased their target price on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Truist Financial reaffirmed a “hold” rating and issued a $360.00 price objective on shares of Tesla in a research report on Thursday, January 2nd. Morgan Stanley upped their price target on shares of Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Jefferies Financial Group lifted their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Nine research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $296.60.

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.