MMA Asset Management LLC Acquires Shares of 1,000 Tesla, Inc. (NASDAQ:TSLA)

MMA Asset Management LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, Holdings Channel reports. The firm acquired 1,000 shares of the electric vehicle producer’s stock, valued at approximately $404,000.

Other large investors have also added to or reduced their stakes in the company. World Investment Advisors LLC increased its holdings in shares of Tesla by 1,248.9% in 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 in the last quarter. Destination Wealth Management increased its holdings 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 worth $3,296,000 after purchasing an additional 1,359 shares in the last quarter. Stephens Consulting LLC increased its holdings 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 worth $644,000 after purchasing an additional 891 shares in the last quarter. Vinva Investment Management Ltd increased its holdings 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 worth $30,593,000 after purchasing an additional 43,685 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings 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 worth $80,944,000 after purchasing an additional 9,919 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $284.65 on Tuesday. 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 company has a market capitalization of $915.58 billion, a P/E ratio of 139.53, a P/E/G ratio of 5.86 and a beta of 2.34. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The business’s 50-day moving average is $382.44 and its 200 day moving average is $318.01.

Tesla (NASDAQ:TSLA) last posted its 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 return on equity of 10.31% and a net margin of 7.26%. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s 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 sale, the director now directly owns 5,400 shares of the company’s stock, valued at $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 403,996 shares of company stock valued at $153,721,387 over the last ninety days. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on TSLA shares. Piper Sandler lifted their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Morgan Stanley reaffirmed a “top pick” rating and issued a $430.00 price objective on shares of Tesla in a report on Monday. Robert W. Baird cut their price objective on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Truist Financial lifted their price objective on Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Ten investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $318.77.

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.