Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Wealth Effects LLC

Wealth Effects LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,010 shares of the electric vehicle producer’s stock after purchasing an additional 340 shares during the quarter. Tesla makes up 0.8% of Wealth Effects LLC’s portfolio, making the stock its 26th biggest holding. Wealth Effects LLC’s holdings in Tesla were worth $1,817,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC grew its position in 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 valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank purchased a new stake in Tesla during the fourth quarter valued at about $14,420,248,000. FMR LLC grew its position in Tesla by 40.1% during 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 acquiring an additional 9,920,325 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after buying an additional 5,075,418 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Down 3.8%

Shares of Tesla stock opened at $327.55 on Thursday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The business’s 50 day simple moving average is $311.59 and its 200-day simple moving average is $331.45. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 179.97, a PEG ratio of 12.73 and a beta of 2.47. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. UBS Group upped their target price on Tesla from $190.00 to $215.00 and gave the stock a “sell” rating in a research report on Monday. Baird R W downgraded Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 23rd. Finally, Raymond James Financial downgraded Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $294.58.

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.