Chung Wu Investment Group LLC Makes New $314,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Chung Wu Investment Group LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,210 shares of the electric vehicle producer's stock, valued at approximately $314,000.

Several other large investors have also recently made changes to their positions in TSLA. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank bought a new position in shares of Tesla in the fourth quarter worth approximately $14,420,248,000. FMR LLC grew its holdings in shares of Tesla by 40.1% in the fourth 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. Finally, Northern Trust Corp grew its holdings in shares of Tesla by 21.6% in the fourth 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. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on TSLA. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and lifted their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. UBS Group lifted their price target on shares of Tesla from $190.00 to $215.00 and gave the company a "sell" rating in a report on Monday. Canaccord Genuity Group cut their price target on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Argus reiterated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $298.37.

Insiders Place Their Bets

In other Tesla news, 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 completion of the transaction, the senior vice president now owns 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by insiders.

Tesla Price Performance

TSLA opened at $325.78 on Friday. The stock has a 50-day moving average price of $313.28 and a 200-day moving average price of $331.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The firm has a market cap of $1.05 trillion, a PE ratio of 179.00, a P/E/G ratio of 12.25 and a beta of 2.47. 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 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 business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the firm posted $0.45 EPS. Sell-side analysts predict 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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