Novus Advisors LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 199.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,797 shares of the electric vehicle producer's stock after purchasing an additional 1,196 shares during the quarter. Novus Advisors LLC's holdings in Tesla were worth $466,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in TSLA. FMR LLC lifted its position in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares during the period. GAMMA Investing LLC lifted its position in shares of Tesla by 27,378.6% during the 1st 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. Northern Trust Corp lifted its position in shares of 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 buying an additional 5,075,418 shares during the period. Assenagon Asset Management S.A. increased its holdings in Tesla by 54.3% during the 1st 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 in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Tesla by 65.5% during the 4th 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 in the last quarter. Institutional investors own 66.20% of the company's stock.
Insiders Place Their Bets
In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the firm'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. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 719,119 shares of company stock worth $246,186,549. 20.70% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms have recently commented on TSLA. Benchmark reissued a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Canaccord Genuity Group lifted their target price on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Roth Mkm lowered their target price on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Cfra Research cut Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $303.31.
View Our Latest Analysis on Tesla
Tesla Price Performance
NASDAQ:TSLA traded up $6.63 during trading hours on Monday, reaching $309.26. 78,491,849 shares of the company were exchanged, compared to its average volume of 96,195,928. The company has a market capitalization of $997.50 billion, a P/E ratio of 178.76, a P/E/G ratio of 10.63 and a beta of 2.33. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The business has a 50 day moving average of $322.22 and a 200 day moving average of $310.31.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.
Tesla Company Profile
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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.
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