Nuveen LLC Makes New $3.25 Billion Investment in Tesla, Inc. (NASDAQ:TSLA)

Nuveen LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,531,327 shares of the electric vehicle producer's stock, valued at approximately $3,247,619,000. Tesla makes up approximately 1.0% of Nuveen LLC's investment portfolio, making the stock its 14th biggest position. Nuveen LLC owned approximately 0.39% of Tesla at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Entropy Technologies LP increased its holdings in shares of Tesla by 1.8% during the first quarter. Entropy Technologies LP now owns 14,605 shares of the electric vehicle producer's stock valued at $3,785,000 after acquiring an additional 252 shares in the last quarter. Invesco Ltd. boosted its position in Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after purchasing an additional 2,211,300 shares in the last quarter. Berger Financial Group Inc boosted its position in Tesla by 8.8% in the 1st quarter. Berger Financial Group Inc now owns 13,253 shares of the electric vehicle producer's stock worth $3,435,000 after purchasing an additional 1,074 shares in the last quarter. Pandora Wealth Inc. purchased a new stake in Tesla in the 1st quarter worth approximately $259,000. Finally, Sierra Summit Advisors LLC lifted its position in shares of Tesla by 2.0% during the 1st quarter. Sierra Summit Advisors LLC now owns 47,312 shares of the electric vehicle producer's stock valued at $12,261,000 after buying an additional 913 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 2.3%

NASDAQ TSLA opened at $329.61 on Friday. Tesla, Inc. has a 52 week low of $194.67 and a 52 week high of $488.54. The firm has a 50 day moving average of $318.68 and a two-hundred day moving average of $307.45. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.06 trillion, a PE ratio of 190.53, a price-to-earnings-growth ratio of 11.58 and a beta of 2.33.

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

Insider Activity

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction dated 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 directly owned 5,924 shares in the company, valued at $1,777,200. This trade represents a 25.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 602,724 shares of company stock valued at $214,176,831. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TSLA shares. UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. JPMorgan Chase & Co. decreased their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Robert W. Baird reiterated a "neutral" rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Finally, Bank of America increased their target price on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $303.31.

About Tesla

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.