Tesla, Inc. (NASDAQ:TSLA) Position Increased by Triumph Capital Management

Triumph Capital Management increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 38.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,920 shares of the electric vehicle producer’s stock after acquiring an additional 2,478 shares during the period. Tesla comprises approximately 0.9% of Triumph Capital Management’s portfolio, making the stock its 23rd biggest holding. Triumph Capital Management’s holdings in Tesla were worth $2,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mount Vernon Associates Inc. MD raised its holdings in Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after buying an additional 350 shares in the last quarter. Oak Ridge Investments LLC increased its stake in shares of Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after purchasing an additional 1,405 shares during the period. Corient Private Wealth LLC increased its stake in shares of Tesla by 3.7% in the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after purchasing an additional 25,943 shares during the period. J.W. Cole Advisors Inc. grew its position in Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after buying an additional 6,615 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after buying an additional 81,729 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 20.90% of the company’s stock.

Tesla Trading Down 1.6 %

Shares of TSLA stock traded down $3.00 on Wednesday, hitting $180.28. The stock had a trading volume of 56,785,140 shares, compared to its average volume of 104,765,609. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The firm has a market cap of $574.95 billion, a P/E ratio of 45.96, a PEG ratio of 5.28 and a beta of 2.39. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average price of $174.71 and a two-hundred day moving average price of $206.29.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TSLA shares. Canaccord Genuity Group decreased their target price on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $245.00 to $195.00 in a report on Tuesday, February 6th. Sanford C. Bernstein decreased their price objective on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday, April 24th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Tesla in a report on Monday, April 22nd. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $184.32.

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.