Halbert Hargrove Global Advisors LLC Acquires 864 Shares of Tesla, Inc. (NASDAQ:TSLA)

Halbert Hargrove Global Advisors LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 117.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,598 shares of the electric vehicle producer's stock after purchasing an additional 864 shares during the quarter. Halbert Hargrove Global Advisors LLC's holdings in Tesla were worth $414,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TSLA. Norges Bank acquired a new position in Tesla in the 4th quarter worth $14,420,248,000. FMR LLC lifted its holdings 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 purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC boosted 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 buying an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA grew its holdings 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 buying an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp raised its position 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. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 1.2%

TSLA stock opened at $329.13 on Tuesday. Tesla, Inc. has a 52 week low of $177.00 and a 52 week high of $488.54. The company has a market capitalization of $1.06 trillion, a PE ratio of 161.34, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company's 50-day simple moving average is $301.53 and its 200 day simple moving average is $332.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and raised their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Raymond James downgraded shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Canaccord Genuity Group lowered their price target on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird restated a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Finally, Oppenheimer restated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $293.67.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated 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 now directly owns 85,000 shares in the company, valued at $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business'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 transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock valued at $278,648,925 in the last three months. Corporate insiders own 20.70% of the company's stock.

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.

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