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Simplicity Wealth LLC Acquires 12,131 Shares of Tesla, Inc. (NASDAQ:TSLA)

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Simplicity Wealth LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 66.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 30,349 shares of the electric vehicle producer's stock after purchasing an additional 12,131 shares during the period. Simplicity Wealth LLC's holdings in Tesla were worth $7,865,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Norges Bank bought a new position in shares of Tesla during the 4th quarter valued at $14,420,248,000. FMR LLC grew its holdings 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 valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC grew its holdings in 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 worth $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after acquiring an additional 8,637,195 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in 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 worth $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA traded up $0.34 during mid-day trading on Wednesday, hitting $326.43. 121,649,309 shares of the company traded hands, compared to its average volume of 100,661,913. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a 50-day moving average price of $293.86 and a two-hundred day moving average price of $333.15. Tesla, Inc. has a 1 year low of $169.80 and a 1 year high of $488.54. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 160.02, a P/E/G ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm earned $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. JPMorgan Chase & Co. cut their price target on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and lifted their target price for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Wedbush set a $500.00 target price on shares of Tesla in a research note on Thursday, June 5th. Finally, Roth Mkm cut their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tesla currently has an average rating of "Hold" and an average target price of $293.67.

Get Our Latest Stock Analysis on TSLA

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is owned by company insiders.

Tesla Company Profile

(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.

See Also

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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