EFG Asset Management Americas Corp. Has $5.96 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

EFG Asset Management Americas Corp. cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,752 shares of the electric vehicle producer’s stock after selling 231 shares during the quarter. Tesla comprises about 1.2% of EFG Asset Management Americas Corp.’s holdings, making the stock its 26th largest position. EFG Asset Management Americas Corp.’s holdings in Tesla were worth $5,957,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Strategic Financial Concepts LLC boosted its holdings in shares of Tesla by 36,790.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after buying an additional 8,637,195 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Tesla by 55,181.0% during the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after acquiring an additional 4,374,746 shares during the period. Assenagon Asset Management S.A. boosted its stake in Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer’s stock worth $2,215,765,000 after acquiring an additional 3,624,910 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP increased its stake in Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TSLA. Canaccord Genuity Group increased their price objective on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Royal Bank of Canada restated a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Wells Fargo & Company increased their target price on Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, January 30th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $365.00 price target on shares of Tesla in a research note on Wednesday, January 29th. Nine research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $327.37.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $25,466,850. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 422,452 shares of company stock valued at $153,659,530 in the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $262.67 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market cap of $844.88 billion, a price-to-earnings ratio of 128.76, a P/E/G ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm’s 50-day simple moving average is $367.78 and its two-hundred day simple moving average is $318.03.

Tesla (NASDAQ:TSLA) last posted its quarterly 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%. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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.