Broadleaf Partners LLC Invests $4.48 Million in Tesla, Inc. $TSLA

Key Points

• Broadleaf Partners LLC invested approximately $4.48 million in Tesla, acquiring 17,268 shares in the first quarter, as disclosed in a recent SEC filing.
• Several institutional investors, including Goldman Sachs and GAMMA Investing LLC, significantly increased their positions in Tesla, reflecting growing investor confidence in the electric vehicle manufacturer.
• Analyst ratings for Tesla are mixed, with a consensus rating of "Hold" and a wide range of price targets, including a high of $500 and a low of $120.

Broadleaf Partners LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 17,268 shares of the electric vehicle producer's stock, valued at approximately $4,475,000.

Several other institutional investors have also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. raised its position in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new position in shares of Tesla in the 1st quarter worth approximately $3,247,619,000. GAMMA Investing LLC raised its position in shares of Tesla by 27,378.6% in 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 acquiring an additional 9,776,607 shares in the last quarter. Northern Trust Corp increased its position in 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 buying an additional 5,075,418 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction 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 transaction, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction 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 on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, 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 quarter, insiders have sold 599,724 shares of company stock valued at $213,126,501. Corporate insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wedbush reaffirmed an "outperform" rating and set a $500.00 price objective on shares of Tesla in a research report on Monday, August 4th. HSBC reaffirmed a "reduce" rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have issued a Hold rating and nine have given a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Performance

Shares of TSLA opened at $340.01 on Friday. The business's fifty day simple moving average is $321.27 and its two-hundred day simple moving average is $303.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54. The company has a market cap of $1.10 trillion, a price-to-earnings ratio of 196.54, a P/E/G ratio of 11.82 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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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