UNICOM Systems Inc. Has $89.64 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

UNICOM Systems Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 60.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 345,895 shares of the electric vehicle producer's stock after buying an additional 130,395 shares during the period. Tesla comprises about 18.2% of UNICOM Systems Inc.'s investment portfolio, making the stock its biggest holding. UNICOM Systems Inc.'s holdings in Tesla were worth $89,642,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC raised its holdings in Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank bought a new position in Tesla in the 4th quarter worth $14,420,248,000. FMR LLC raised its holdings in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Finally, Northern Trust Corp raised its holdings in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Shares of TSLA stock traded down $2.74 during trading hours on Tuesday, reaching $314.16. 33,205,078 shares of the company were exchanged, compared to its average volume of 99,261,549. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock's fifty day moving average is $323.33 and its two-hundred day moving average is $318.52. The company has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.56, a P/E/G ratio of 9.33 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on TSLA. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Wedbush restated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a report on Tuesday, July 8th. Piper Sandler restated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Morgan Stanley restated an "overweight" rating and set a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Finally, Royal Bank Of Canada dropped their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $300.19.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction that occurred on 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 transaction, the director directly owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

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.