Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Advisory Resource Group

Advisory Resource Group grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,800 shares of the electric vehicle producer’s stock after acquiring an additional 432 shares during the period. Advisory Resource Group’s holdings in Tesla were worth $1,244,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new position in Tesla in the fourth quarter worth about $14,420,248,000. FMR LLC increased its holdings in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock valued at $278,648,925 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on TSLA shares. BNP Paribas set a $137.00 target price on Tesla and gave the stock an “underperform” rating in a research report on Wednesday, April 16th. Royal Bank Of Canada reduced their price objective on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Wedbush set a $500.00 target price on shares of Tesla in a research note on Thursday, June 5th. Cfra Research downgraded shares of Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Finally, Argus reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $293.67.

Tesla Trading Up 1.8%

Tesla stock opened at $322.05 on Friday. Tesla, Inc. has a 12-month low of $179.66 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The stock has a market capitalization of $1.04 trillion, a PE ratio of 176.95, a price-to-earnings-growth ratio of 12.04 and a beta of 2.47. The firm has a 50 day simple moving average of $304.81 and a 200-day simple moving average of $332.35.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the business posted $0.45 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.