Envestnet Asset Management Inc. Acquires 57,189 Shares of Tesla, Inc. (NASDAQ:TSLA)

Envestnet Asset Management Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,267,853 shares of the electric vehicle producer's stock after purchasing an additional 57,189 shares during the period. Envestnet Asset Management Inc.'s holdings in Tesla were worth $328,577,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TSLA. Norges Bank bought a new stake in shares of Tesla during the fourth quarter worth $14,420,248,000. FMR LLC increased its position in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Tesla by 21.6% during 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 acquiring an additional 5,075,418 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. This trade 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 sold 835,509 shares of company stock valued at $279,420,485. Company insiders own 20.70% of the company's stock.

Tesla Price Performance

TSLA stock traded up $13.29 during mid-day trading on Thursday, hitting $309.17. The stock had a trading volume of 77,833,015 shares, compared to its average volume of 109,356,969. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The firm has a market capitalization of $995.83 billion, a P/E ratio of 169.99, a P/E/G ratio of 8.86 and a beta of 2.39. The firm has a fifty day simple moving average of $321.49 and a 200 day simple moving average of $323.10.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period last year, the firm posted $0.45 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TSLA shares. The Goldman Sachs Group increased their price objective on shares of Tesla from $285.00 to $315.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Wells Fargo & Company decreased their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Finally, Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. 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 company. According to MarketBeat, Tesla has an average rating of "Hold" and a consensus price target of $301.13.

Tesla 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.