Bridgewater Advisors Inc. Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Bridgewater Advisors Inc. acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,282 shares of the electric vehicle producer's stock, valued at approximately $3,183,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank grew its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC grew its holdings in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla during the first quarter valued at approximately $27,000. Finally, True Wealth Design LLC grew its holdings in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director directly owned 85,000 shares in the company, valued at approximately $23,300,200. The trade was a 56.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the transaction, the chief financial officer owned 1,950 shares of the company's stock, valued at $664,989. This represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock worth $279,420,485 in the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Up 3.2%

Shares of TSLA stock traded up $10.24 on Friday, reaching $329.65. The company had a trading volume of 93,577,499 shares, compared to its average volume of 98,929,708. 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 stock has a market cap of $1.06 trillion, a PE ratio of 181.13, a PEG ratio of 9.80 and a beta of 2.39. The company has a 50-day moving average of $325.64 and a 200-day moving average of $317.81. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the company earned $0.45 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TSLA shares. Royal Bank Of Canada lowered their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Guggenheim reiterated a "sell" rating and set a $175.00 price target on shares of Tesla in a research note on Tuesday, July 8th. Piper Sandler reiterated an "overweight" rating and set a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Canaccord Genuity Group reiterated a "buy" rating and set a $303.00 price target on shares of Tesla in a research note on Monday, June 30th. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $300.19.

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.