Oak Ridge Investments LLC Buys 37,801 Shares of Tesla, Inc. (NASDAQ:TSLA)

Oak Ridge Investments LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 92.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,616 shares of the electric vehicle producer's stock after acquiring an additional 37,801 shares during the quarter. Tesla accounts for about 1.7% of Oak Ridge Investments LLC's investment portfolio, making the stock its 13th largest holding. Oak Ridge Investments LLC's holdings in Tesla were worth $20,374,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TSLA. Vanguard Group Inc. grew its position in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the period. Northern Trust Corp grew 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 buying an additional 5,075,418 shares during the period. Goldman Sachs Group Inc. grew its position in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tesla by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after buying an additional 158,697 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after buying an additional 849,091 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Mizuho lowered their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Truist Financial set a $280.00 price target on shares of Tesla in a report on Tuesday, April 22nd. BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. The Goldman Sachs Group lowered their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Finally, Canaccord Genuity Group boosted their target price on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Ten equities research 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 company. Based on data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $303.31.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares of the company's stock, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the 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 of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 602,724 shares of company stock valued at $214,176,831 in the last 90 days. Insiders own 20.70% of the company's stock.

Tesla Stock Down 0.4%

Shares of Tesla stock opened at $339.38 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $198.75 and a 1 year high of $488.54. The firm's 50-day moving average is $318.69 and its two-hundred day moving average is $306.71. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 196.17, a PEG ratio of 11.85 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The firm's revenue was down 11.8% on a year-over-year basis. As a group, research analysts expect 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.

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