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

Envestnet Asset Management Inc. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent disclosure 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 quarter. Envestnet Asset Management Inc.'s holdings in Tesla were worth $328,577,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in Tesla during the 4th quarter valued at $14,420,248,000. FMR LLC boosted its stake in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC boosted its stake in 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 valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in 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 valued at $2,356,288,000 after buying an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director owned 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock worth $279,420,485 in the last three months. 20.70% of the stock is owned by insiders.

Tesla Stock Up 1.2%

Shares of Tesla stock traded up $3.64 during midday trading on Friday, reaching $313.51. 78,861,329 shares of the company's stock traded hands, compared to its average volume of 99,821,915. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company's 50 day simple moving average is $322.60 and its 200 day simple moving average is $321.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The company has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.26, a price-to-earnings-growth ratio of 9.22 and a beta of 2.39.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSLA. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Robert W. Baird restated a "neutral" rating and set a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Finally, William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $300.19.

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.