Share on Stocktwits a16z Perennial Management L.P. bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA – Free 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. Get Tesla alerts: 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. Get Our Latest Stock Analysis on Tesla Key Stories Impacting Tesla