AlphaStar Capital Management LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 128.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 30,233 shares of the electric vehicle producer's stock after acquiring an additional 16,999 shares during the period. Tesla comprises about 0.9% of AlphaStar Capital Management LLC's holdings, making the stock its 21st largest holding. AlphaStar Capital Management LLC's holdings in Tesla were worth $7,835,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter worth approximately $14,420,248,000. FMR LLC boosted its stake in Tesla by 40.1% during 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 purchasing an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after buying an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Tesla by 21.6% in the 4th 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 last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Roth Mkm dropped their price target on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group raised their price target on Tesla from $285.00 to $315.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada dropped their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Finally, Raymond James Financial downgraded Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $301.60.
Get Our Latest Analysis on TSLA
Insider Transactions at Tesla
In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,692,546.04. The trade was a 30.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 829,509 shares of company stock valued at $277,648,925 in the last ninety days. Corporate insiders own 20.70% of the company's stock.
Tesla Stock Up 1.2%
Shares of NASDAQ:TSLA opened at $297.41 on Tuesday. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The business has a 50 day simple moving average of $321.10 and a two-hundred day simple moving average of $323.46. The firm has a market capitalization of $957.96 billion, a PE ratio of 162.94, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter last year, the firm earned $0.45 EPS. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.
Tesla Profile
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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.
Further Reading
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