Cassaday & Co Wealth Management LLC decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,832 shares of the electric vehicle producer's stock after selling 1,044 shares during the quarter. Cassaday & Co Wealth Management LLC's holdings in Tesla were worth $3,066,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Tesla during the fourth quarter worth about $14,420,248,000. FMR LLC lifted its stake 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 valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake 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 valued at $2,356,288,000 after buying an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp lifted its stake 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 valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.
Tesla Stock Performance
Shares of Tesla stock traded up $10.24 during midday trading on Friday, hitting $329.65. The company had a trading volume of 93,904,102 shares, compared to its average volume of 98,883,688. The stock has a market cap of $1.06 trillion, a price-to-earnings ratio of 181.13, a PEG ratio of 12.17 and a beta of 2.39. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $326.27 and a 200 day simple moving average of $317.30. 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 issued its quarterly earnings data 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). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the business earned $0.45 EPS. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Insider Buying and Selling at Tesla
In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. This represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the business'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 transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 835,509 shares of company stock worth $279,420,485. Corporate insiders own 20.70% of the company's stock.
Analyst Ratings Changes
TSLA has been the topic of a number of analyst reports. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. William Blair lowered shares of Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. The Goldman Sachs Group cut their price target on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, BNP Paribas set a $137.00 price target on shares of Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $300.19.
Check Out Our Latest Research Report on TSLA
Tesla 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.
Further Reading
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