Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group Inc. RI increased its stake in Tesla by 22.5%, purchasing 13,268 shares to reach a total of 72,240 shares valued at $18.72 million.
• Insider trading revealed that CFO Vaibhav Taneja sold 6,000 shares, reducing his holdings by 75.47%, while SVP Xiaotong Zhu sold 15,000 shares, decreasing his ownership by 18.16%.
• Wall Street analysts maintain a consensus rating of "Hold" for Tesla, with varied price targets; the average is currently set at $303.31.

Citizens Financial Group Inc. RI lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,240 shares of the electric vehicle producer's stock after purchasing an additional 13,268 shares during the period. Citizens Financial Group Inc. RI's holdings in Tesla were worth $18,722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in TSLA. Eagle Capital Management LLC bought a new position in shares of Tesla during the fourth quarter worth approximately $331,000. Brighton Jones LLC increased its holdings in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Tesla during the 4th quarter worth approximately $346,000. Finally, Highview Capital Management LLC DE acquired a new stake in shares of Tesla during the 4th quarter worth approximately $2,367,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. China Renaissance reiterated a "hold" rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Cantor Fitzgerald reduced their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Monday. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Finally, Guggenheim restated a "sell" rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus price target of $303.31.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were 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 owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 606,724 shares of company stock worth $215,376,831 over the last three months. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Tesla stock traded up $2.36 during trading on Thursday, reaching $322.27. The company had a trading volume of 66,349,220 shares, compared to its average volume of 91,453,784. The firm's 50-day simple moving average is $319.07 and its 200 day simple moving average is $308.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a market capitalization of $1.04 trillion, a PE ratio of 186.28, a price-to-earnings-growth ratio of 11.24 and a beta of 2.33. Tesla, Inc. has a 1-year low of $192.04 and a 1-year high of $488.54.

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

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.