Envestnet Asset Management Inc. Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Envestnet Asset Management Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,267,853 shares of the electric vehicle producer's stock after purchasing an additional 57,189 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Tesla were worth $328,577,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC bought a new stake in shares of Tesla in the 4th quarter worth about $56,600,000. Means Investment CO. Inc. lifted its stake in Tesla by 37.7% in the first 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 during the last quarter. Focus Financial Network Inc. boosted its position in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after buying an additional 670 shares during the period. IFM Investors Pty Ltd grew its stake in shares of Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after buying an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in shares of Tesla during the fourth quarter valued at approximately $8,158,000. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. UBS Group set a $290.00 target price on shares of Tesla in a research note on Monday, June 30th. Benchmark reaffirmed a "buy" rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $301.13.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director owned 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was 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 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 a total of 835,509 shares of company stock worth $279,420,485 over the last 90 days. 20.70% of the stock is currently owned by insiders.

Tesla Stock Down 0.3%

Shares of NASDAQ TSLA traded down $0.86 during trading hours on Friday, hitting $309.01. 21,957,222 shares of the stock were exchanged, compared to its average volume of 100,091,224. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a market cap of $995.30 billion, a PE ratio of 169.80, a PEG ratio of 8.80 and a beta of 2.39. The firm has a fifty day moving average price of $322.07 and a 200-day moving average price of $322.26. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54.

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