Golden State Wealth Management LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 127.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,710 shares of the electric vehicle producer's stock after purchasing an additional 21,144 shares during the quarter. Tesla accounts for about 0.7% of Golden State Wealth Management LLC's portfolio, making the stock its 28th largest position. Golden State Wealth Management LLC's holdings in Tesla were worth $9,773,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares in the last quarter. Norges Bank bought a new stake in shares of Tesla during the fourth quarter worth about $14,420,248,000. FMR LLC increased its stake in shares of Tesla by 40.1% in 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 during the period. Finally, Northern Trust Corp raised its holdings in Tesla by 21.6% in the 4th 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 during the last quarter. Institutional investors own 66.20% of the company's stock.
Tesla Stock Performance
Shares of TSLA opened at $327.55 on Thursday. The firm has a market capitalization of $1.06 trillion, a P/E ratio of 179.97, a P/E/G ratio of 12.73 and a beta of 2.47. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The stock has a 50 day moving average price of $311.59 and a two-hundred day moving average price of $331.45. 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 (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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. 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 company posted $0.45 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total value of $32,096,336.20. Following the transaction, the director now owns 85,000 shares in the company, valued at $24,274,300. The trade was a 56.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 over the last quarter. Insiders own 20.70% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Guggenheim reissued a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research note on Monday. Mizuho raised their target price on Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Finally, Bank of America decreased their price target on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $294.58.
Check Out Our Latest Stock Analysis on Tesla
Tesla Profile
(
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.
See Also
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