Ally Financial Inc. bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,000 shares of the electric vehicle producer's stock, valued at approximately $5,183,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Apexium Financial LP lifted its stake in shares of Tesla by 9.4% in the 1st quarter. Apexium Financial LP now owns 3,050 shares of the electric vehicle producer's stock valued at $790,000 after acquiring an additional 263 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Tesla by 13.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,065 shares of the electric vehicle producer's stock valued at $4,164,000 after acquiring an additional 1,849 shares during the last quarter. Freedom Investment Management Inc. lifted its stake in shares of Tesla by 9.2% in the 1st quarter. Freedom Investment Management Inc. now owns 8,130 shares of the electric vehicle producer's stock valued at $2,107,000 after acquiring an additional 687 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Tesla in the 1st quarter valued at $885,000. Finally, Synovus Financial Corp grew its holdings in Tesla by 11.1% during the 1st quarter. Synovus Financial Corp now owns 28,485 shares of the electric vehicle producer's stock worth $7,382,000 after acquiring an additional 2,841 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.
Tesla Stock Performance
Shares of Tesla stock opened at $340.01 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $321.27 and a two-hundred day moving average price of $303.08. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54. The company has a market cap of $1.10 trillion, a P/E ratio of 196.54, a PEG ratio of 11.82 and a beta of 2.33.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. The business's revenue was down 11.8% on a year-over-year basis. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on TSLA shares. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Finally, Bank of America raised their target price on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $303.31.
Read Our Latest Analysis on Tesla
Insider Transactions at Tesla
In other news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 599,724 shares of company stock valued at $213,126,501. 20.70% of the stock is currently owned by corporate insiders.
Tesla Company Profile
(
Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Tesla, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tesla wasn't on the list.
While Tesla currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
MarketBeat All Access