Dorsey Wright & Associates purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,967 shares of the electric vehicle producer's stock, valued at approximately $2,842,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Eagle Capital Management LLC acquired a new position in shares of Tesla in the 4th quarter valued at $331,000. Brighton Jones LLC raised its position in Tesla by 11.8% in 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 in the last quarter. Revolve Wealth Partners LLC lifted its stake in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in Tesla during the fourth quarter valued at approximately $346,000. Finally, Highview Capital Management LLC DE acquired a new position in Tesla during the fourth quarter worth $2,367,000. 66.20% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
TSLA has been the topic of a number of research analyst reports. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Robert W. Baird reiterated a "neutral" rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. JPMorgan Chase & Co. cut their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. Benchmark restated a "buy" rating and issued a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $299.91.
Read Our Latest Research Report on TSLA
Tesla Stock Performance
Shares of TSLA stock traded down $27.26 during midday trading on Thursday, hitting $305.30. 156,220,895 shares of the company were exchanged, compared to its average volume of 86,459,168. The firm has a market capitalization of $983.36 billion, a P/E ratio of 176.47, a PEG ratio of 12.63 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, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The firm's 50 day moving average price is $325.38 and its two-hundred day moving average price is $315.19.
Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 8.11%. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.
Insider Activity
In related news, Director Robyn M. Denholm sold 112,395 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. This represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 835,509 shares of company stock worth $279,420,485. Corporate insiders own 20.70% of the company's stock.
Tesla Profile
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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.
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