Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Legacy Capital Group California Inc.

Key Points

• Legacy Capital Group California Inc. increased its Tesla holdings by 40.5% in Q1, acquiring an additional 872 shares to bring its total to 3,026 shares, valued at $784,000.
• Institutional investors collectively own 66.20% of Tesla, indicating significant market interest and investment in the company.
• Analysts have varying ratings on Tesla, with the consensus being a "Hold" and an average price target of $303.31, showing cautious optimism amid mixed performance indicators.

Legacy Capital Group California Inc. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 40.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,026 shares of the electric vehicle producer's stock after acquiring an additional 872 shares during the quarter. Legacy Capital Group California Inc.'s holdings in Tesla were worth $784,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its position 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 purchasing an additional 9,776,607 shares during the period. Northern Trust Corp raised its position 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 purchasing an additional 5,075,418 shares during the period. Assenagon Asset Management S.A. raised its position in Tesla by 54.3% during the first quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock valued at $2,193,728,000 after purchasing an additional 2,978,026 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Tesla by 65.5% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,937,475 shares of the electric vehicle producer's stock valued at $2,397,790,000 after purchasing an additional 2,350,065 shares during the period. Finally, Nuveen Asset Management LLC raised its position in Tesla by 19.8% during the fourth quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer's stock valued at $5,294,010,000 after purchasing an additional 2,170,449 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares of the company's stock, valued at approximately $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 606,724 shares of company stock worth $215,376,831. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TSLA shares. HSBC restated a "reduce" rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. Barclays reduced their price target on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Guggenheim reiterated a "sell" rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Mizuho reduced their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $303.31.

Tesla Stock Performance

Shares of TSLA stock traded up $11.19 on Wednesday, hitting $319.91. The company had a trading volume of 78,040,129 shares, compared to its average volume of 91,306,952. The firm has a market cap of $1.03 trillion, a P/E ratio of 184.92, a price-to-earnings-growth ratio of 10.85 and a beta of 2.33. The company has a 50-day moving average price of $319.80 and a 200-day moving average price of $309.56. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $191.48 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.