Rehmann Capital Advisory Group Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Rehmann Capital Advisory Group raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,842 shares of the electric vehicle producer's stock after purchasing an additional 1,942 shares during the quarter. Rehmann Capital Advisory Group's holdings in Tesla were worth $4,624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC raised its holdings in shares of 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 buying an additional 9,920,325 shares during the period. GAMMA Investing LLC raised its holdings 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 buying an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA raised its holdings 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 buying an additional 5,719,466 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Tesla by 21.6% in the 4th 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. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA opened at $297.81 on Wednesday. The stock has a market cap of $959.23 billion, a price-to-earnings ratio of 163.63, a price-to-earnings-growth ratio of 8.57 and a beta of 2.39. The business has a fifty day moving average of $321.21 and a 200-day moving average of $323.29. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for 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 quarter in the prior year, the business posted $0.45 EPS. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSLA. Robert W. Baird reissued a "neutral" rating and set a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Raymond James Financial cut Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Barclays decreased their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Finally, Benchmark reissued a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $301.13.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was 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 owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director owned 85,000 shares of the company's stock, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 829,509 shares of company stock worth $277,648,925 in the last quarter. Corporate insiders own 20.70% of the company's stock.

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.

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