Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,473,563 shares of the electric vehicle producer's stock after purchasing an additional 1,384 shares during the quarter. Tesla accounts for 1.2% of Chevy Chase Trust Holdings LLC's investment portfolio, making the stock its 13th largest position. Chevy Chase Trust Holdings LLC's holdings in Tesla were worth $381,889,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tesla during the 4th quarter worth $56,600,000. Means Investment CO. Inc. raised its position in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Focus Financial Network Inc. lifted its holdings in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. increased its stake in shares of Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in shares of Tesla during the 4th quarter worth approximately $8,158,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Roth Mkm dropped their price target on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Raymond James Financial downgraded shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Benchmark reissued a "buy" rating and issued a $350.00 price objective on shares of Tesla in a research report on Wednesday, April 23rd. Finally, Canaccord Genuity Group decreased their target price on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $294.58.

Tesla Stock Down 2.4%

NASDAQ TSLA opened at $340.47 on Wednesday. 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, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The business has a 50 day moving average price of $309.87 and a two-hundred day moving average price of $331.48. The stock has a market cap of $1.10 trillion, a PE ratio of 187.07, a P/E/G ratio of 13.04 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the company posted $0.45 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president now directly owns 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Gebbia bought 4,000 shares of Tesla stock in a transaction dated Thursday, April 24th. The shares were acquired at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the purchase, the director now owns 4,111 shares in the company, valued at approximately $1,053,690.41. The trade was a 3,603.60% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 in the last ninety days. Insiders own 20.70% of the company's stock.

Tesla 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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