Aurora Private Wealth Inc. Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Aurora Private Wealth Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2,201.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,858 shares of the electric vehicle producer's stock after acquiring an additional 48,648 shares during the quarter. Aurora Private Wealth Inc.'s holdings in Tesla were worth $13,180,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC raised its position in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC raised its position 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 worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position 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 worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp raised its position 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 worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TSLA. Canaccord Genuity Group cut their price objective on Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Robert W. Baird reiterated a "neutral" rating and issued a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Glj Research reiterated a "sell" rating and issued a $19.05 price target (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Piper Sandler reiterated an "overweight" rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Finally, HSBC cut their price target on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a report on Thursday, March 27th. Ten research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $294.58.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, April 7th. The shares were 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 owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president now owns 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $327.55 on Thursday. The stock has a market cap of $1.06 trillion, a P/E ratio of 179.97, a PEG ratio of 12.73 and a beta of 2.47. The firm has a 50-day moving average of $311.59 and a two-hundred day moving average of $331.45. 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, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its 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). The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the company posted $0.45 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla 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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