Oak Ridge Investments LLC Has $16.48 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Oak Ridge Investments LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,815 shares of the electric vehicle producer’s stock after acquiring an additional 2,312 shares during the period. Tesla accounts for 1.3% of Oak Ridge Investments LLC’s investment portfolio, making the stock its 16th biggest holding. Oak Ridge Investments LLC’s holdings in Tesla were worth $16,483,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. King Luther Capital Management Corp increased its position in Tesla by 2.8% in the 2nd quarter. King Luther Capital Management Corp now owns 6,348 shares of the electric vehicle producer’s stock worth $1,256,000 after buying an additional 173 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Tesla by 62.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 20,289 shares of the electric vehicle producer’s stock worth $4,015,000 after acquiring an additional 7,804 shares during the period. Edge Capital Group LLC acquired a new position in Tesla during the 2nd quarter valued at $522,000. Cyrus J. Lawrence LLC bought a new stake in Tesla in the 2nd quarter valued at $82,000. Finally, Commonwealth Financial Services LLC grew its position in Tesla by 11.2% in the 2nd quarter. Commonwealth Financial Services LLC now owns 945 shares of the electric vehicle producer’s stock worth $187,000 after purchasing an additional 95 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. The Goldman Sachs Group increased their target price on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Bank of America cut Tesla from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $400.00 to $490.00 in a research report on Tuesday, January 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, Royal Bank of Canada lifted their target price on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Nine equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $299.33.

Tesla Price Performance

Shares of TSLA stock opened at $426.50 on Tuesday. The firm’s 50 day moving average price is $389.94 and its two-hundred day moving average price is $288.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The stock has a market cap of $1.37 trillion, a PE ratio of 116.85, a PEG ratio of 6.53 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock valued at $213,451,751 in the last ninety days. 20.70% of the stock is owned by insiders.

About Tesla

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.