Wellington Management Group LLP Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Wellington Management Group LLP lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 38.5% during the 4th quarter, Holdings Channel reports. The fund owned 10,174,135 shares of the electric vehicle producer’s stock after buying an additional 2,829,609 shares during the quarter. Tesla comprises 0.8% of Wellington Management Group LLP’s portfolio, making the stock its 19th largest holding. Wellington Management Group LLP’s holdings in Tesla were worth $4,108,723,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Horrell Capital Management Inc. raised its position in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. lifted its position in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in Tesla during the fourth quarter worth about $38,000. Delos Wealth Advisors LLC increased its position in shares of Tesla by 300.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock valued at $40,000 after acquiring an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Wells Fargo & Company cut their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Bank of America dropped their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Morgan Stanley reduced their target price on shares of Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Finally, Truist Financial boosted their price target on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $318.34.

Tesla Stock Performance

NASDAQ TSLA opened at $263.55 on Monday. The business has a 50 day moving average price of $321.33 and a 200 day moving average price of $323.01. The company has a market capitalization of $847.71 billion, a P/E ratio of 129.19, a PEG ratio of 5.86 and a beta of 2.50. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 477,228 shares of company stock worth $166,849,043. Insiders own 20.70% of the company’s stock.

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.