Lowery Thomas LLC Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Lowery Thomas LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,247 shares of the electric vehicle producer's stock, valued at approximately $841,000.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Tesla during the 4th quarter worth $14,420,248,000. FMR LLC increased its position in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Tesla by 27,378.6% in the 1st 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 last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Tesla by 4,963.0% in the 4th 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 purchasing an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $329.65 on Friday. The company's 50-day moving average is $326.27 and its 200 day moving average is $316.70. 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 capitalization of $1.06 trillion, a P/E ratio of 181.13, a price-to-earnings-growth ratio of 12.56 and a beta of 2.39. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period last year, the firm posted $0.45 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TSLA shares. Benchmark reissued a "buy" rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. UBS Group set a $290.00 price objective on shares of Tesla in a research report on Monday, June 30th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price target on shares of Tesla in a research report on Tuesday, July 8th. Finally, HSBC reaffirmed a "reduce" rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus price target of $300.19.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were 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 of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock worth $279,420,485 in the last ninety days. Corporate insiders own 20.70% of the company's stock.

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.

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