Envestnet Portfolio Solutions Inc. Buys 11,821 Shares of Tesla, Inc. (NASDAQ:TSLA)

Envestnet Portfolio Solutions Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,055 shares of the electric vehicle producer’s stock after buying an additional 11,821 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Tesla were worth $42,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Ascent Capital Management LLC bought a new position in shares of Tesla in the 4th quarter worth approximately $849,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Tesla by 19.7% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 414 shares of the electric vehicle producer’s stock valued at $167,000 after purchasing an additional 68 shares in the last quarter. one8zero8 LLC purchased a new stake in Tesla in the fourth quarter worth $1,348,000. Choate Investment Advisors raised its holdings in Tesla by 17.7% in the fourth quarter. Choate Investment Advisors now owns 12,363 shares of the electric vehicle producer’s stock worth $4,993,000 after purchasing an additional 1,862 shares in the last quarter. Finally, Diversified Enterprises LLC lifted its position in Tesla by 4.5% during the fourth quarter. Diversified Enterprises LLC now owns 2,654 shares of the electric vehicle producer’s stock valued at $1,072,000 after buying an additional 115 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays upped their target price on shares of Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Wedbush reaffirmed an “outperform” rating and set a $550.00 target price on shares of Tesla in a research note on Friday, March 7th. StockNews.com cut Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Morgan Stanley reaffirmed a “top pick” rating and set a $430.00 price objective on shares of Tesla in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group reissued a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Nine investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $325.65.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $413.56, for a total value of $2,894,920.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $45,063,565.40. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,228 shares of company stock valued at $166,849,043 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $249.98 on Friday. The company has a market capitalization of $804.06 billion, a P/E ratio of 122.54, a P/E/G ratio of 5.86 and a beta of 2.50. The business’s 50-day moving average is $351.31 and its 200 day 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. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54.

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

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.