Crestone Asset Management LLC Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Crestone Asset Management LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,241 shares of the electric vehicle producer’s stock after purchasing an additional 143 shares during the quarter. Crestone Asset Management LLC’s holdings in Tesla were worth $308,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Patrick M Sweeney & Associates Inc. acquired a new stake in shares of Tesla in the 4th quarter valued at about $421,000. Sovereign Financial Group Inc. boosted its holdings in shares of Tesla by 6.4% in the fourth quarter. Sovereign Financial Group Inc. now owns 1,974 shares of the electric vehicle producer’s stock valued at $490,000 after acquiring an additional 118 shares in the last quarter. Simmons Bank lifted its holdings in Tesla by 7.6% in the fourth quarter. Simmons Bank now owns 2,424 shares of the electric vehicle producer’s stock valued at $602,000 after acquiring an additional 172 shares during the period. Peddock Capital Advisors LLC boosted its position in Tesla by 11.4% during the fourth quarter. Peddock Capital Advisors LLC now owns 1,461 shares of the electric vehicle producer’s stock worth $363,000 after purchasing an additional 150 shares in the last quarter. Finally, Charles Schwab Investment Advisory Inc. increased its position in shares of Tesla by 2.8% in the fourth quarter. Charles Schwab Investment Advisory Inc. now owns 4,319 shares of the electric vehicle producer’s stock valued at $1,073,000 after buying an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Tesla in a report on Wednesday, April 17th. Redburn Atlantic initiated coverage on shares of Tesla in a research note on Wednesday, January 24th. They set a “sell” rating and a $170.00 price objective for the company. Canaccord Genuity Group reduced their price target on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Piper Sandler reiterated an “overweight” rating and set a $205.00 price objective on shares of Tesla in a research note on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $185.90.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 302,803 shares of company stock valued at $56,124,840. 20.90% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of TSLA stock traded down $3.09 during trading hours on Wednesday, reaching $174.72. The stock had a trading volume of 79,780,180 shares, compared to its average volume of 103,846,883. The firm has a market capitalization of $557.22 billion, a PE ratio of 44.57, a PEG ratio of 4.74 and a beta of 2.41. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The stock’s fifty day simple moving average is $173.12 and its 200 day simple moving average is $204.32. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

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.