a16z Perennial Management L.P. Invests $1.73 Million in Tesla, Inc. $TSLA

a16z Perennial Management L.P. bought a new position in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) during the 3rd quarter, HoldingsChannel reports. The firm bought 3,878 shares of the electric vehicle producer’s stock, valued at approximately $1,725,000. Tesla makes up about 0.1% of a16z Perennial Management L.P.’s investment portfolio, making the stock its 27th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Chapman Financial Group LLC acquired a new position in shares of Tesla in the second quarter valued at about $26,000. LGT Financial Advisors LLC purchased a new position in Tesla during the 2nd quarter worth approximately $29,000. Manning & Napier Advisors LLC purchased a new stake in shares of Tesla in the 3rd quarter valued at $29,000. CoreFirst Bank & Trust acquired a new stake in shares of Tesla in the second quarter worth $30,000. Finally, ESL Trust Services LLC raised its holdings in shares of Tesla by 1,900.0% during the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 95 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the transaction, the chief financial officer owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 119,457 shares of company stock worth $53,501,145 over the last three months. Company insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TSLA shares. TD Cowen increased their price target on Tesla from $509.00 to $519.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Mizuho set a $540.00 price target on Tesla and gave the company an “outperform” rating in a report on Thursday, January 29th. Canaccord Genuity Group set a $520.00 price objective on shares of Tesla in a research note on Thursday, January 29th. New Street Research increased their price target on shares of Tesla from $520.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Tesla in a research report on Tuesday, January 27th. Seventeen research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $403.92.

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Tesla Stock Up 3.5%

NASDAQ TSLA opened at $411.11 on Friday. Tesla, Inc. has a one year low of $214.25 and a one year high of $498.83. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16. The business has a fifty day moving average price of $446.45 and a 200 day moving average price of $410.61. The company has a market cap of $1.54 trillion, a P/E ratio of 380.66, a P/E/G ratio of 13.30 and a beta of 1.86.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $24.90 billion during the quarter, compared to analysts’ expectations of $24.75 billion. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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