Alpha Cubed Investments LLC Purchases 238 Shares of Tesla, Inc. (NASDAQ:TSLA)

Alpha Cubed Investments LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,061 shares of the electric vehicle producer’s stock after acquiring an additional 238 shares during the period. Alpha Cubed Investments LLC’s holdings in Tesla were worth $17,409,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after acquiring an additional 3,453,078 shares during the last quarter. Morgan Stanley lifted its holdings in Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares during the period. FMR LLC lifted its holdings in Tesla by 0.9% during the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after buying an additional 269,182 shares during the period. Northern Trust Corp lifted its holdings in Tesla by 3.4% during the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after buying an additional 909,170 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Tesla by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,697,074 shares of the electric vehicle producer’s stock worth $3,677,502,000 after buying an additional 496,299 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on TSLA. Barclays cut their target price on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Citigroup boosted their price objective on Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Canaccord Genuity Group dropped their price target on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Wednesday, April 24th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $184.32.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 over the last three months. Corporate insiders own 20.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock traded down $10.77 during trading on Tuesday, hitting $183.28. The company’s stock had a trading volume of 126,403,453 shares, compared to its average volume of 105,362,438. The company has a market cap of $584.52 billion, a PE ratio of 47.34, a P/E/G ratio of 4.45 and a beta of 2.40. 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 business has a fifty day moving average of $174.92 and a 200-day moving average of $206.77. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29.

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.