Cerity Partners LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Cerity Partners LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 403,012 shares of the electric vehicle producer's stock after buying an additional 9,258 shares during the period. Cerity Partners LLC's holdings in Tesla were worth $101,659,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla during the 4th quarter valued at $56,600,000. Means Investment CO. Inc. raised its holdings in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. raised its holdings in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after purchasing an additional 46,087 shares in the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Tesla in the 4th quarter worth $8,158,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA stock traded up $3.46 during trading hours on Monday, reaching $316.97. The company had a trading volume of 77,602,152 shares, compared to its average volume of 109,128,070. The business has a fifty day moving average price of $322.60 and a 200-day moving average price of $319.32. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The firm has a market cap of $1.02 trillion, a PE ratio of 174.16, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

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 return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank Of Canada decreased their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Cantor Fitzgerald decreased their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Roth Mkm decreased their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Truist Financial set a $280.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $300.19.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the firm'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 transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 in the last 90 days. 20.70% of the stock is owned by insiders.

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.