Abound Wealth Management Has $5.01 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Abound Wealth Management raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,342 shares of the electric vehicle producer's stock after purchasing an additional 1,845 shares during the quarter. Tesla accounts for approximately 1.7% of Abound Wealth Management's investment portfolio, making the stock its 13th biggest position. Abound Wealth Management's holdings in Tesla were worth $5,013,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TSLA. Norges Bank acquired a new stake in shares of Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC lifted its stake in shares of Tesla by 40.1% in the 4th 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 last quarter. GAMMA Investing LLC boosted its holdings in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Up 1.9%

Shares of NASDAQ:TSLA opened at $325.31 on Monday. Tesla, Inc. has a 1 year low of $177.00 and a 1 year high of $488.54. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47. The business's 50-day moving average is $299.39 and its 200-day moving average is $332.88. 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 - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays cut their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Robert W. Baird reissued a "neutral" rating and set a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Truist Financial set a $280.00 price objective on Tesla in a report on Tuesday, April 22nd. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and raised their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Glj Research reaffirmed a "sell" rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $293.67.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director now directly owns 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following 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 disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock valued at $273,791,775 in the last three months. Corporate insiders own 20.70% of the company's stock.

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.

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