Tesla, Inc. (NASDAQ:TSLA) Stake Increased by Means Investment CO. Inc.

Means Investment CO. Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 37.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,089 shares of the electric vehicle producer's stock after buying an additional 6,323 shares during the period. Tesla comprises about 0.6% of Means Investment CO. Inc.'s investment portfolio, making the stock its 26th largest position. Means Investment CO. Inc.'s holdings in Tesla were worth $5,984,000 as of its most recent filing with the Securities and Exchange Commission.

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

Tesla Price Performance

Shares of NASDAQ TSLA opened at $322.05 on Friday. Tesla, Inc. has a twelve month low of $179.66 and a twelve month high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 176.95, a PEG ratio of 12.04 and a beta of 2.47. The firm has a 50-day moving average of $304.81 and a two-hundred day moving average of $332.35.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Glj Research reaffirmed a "sell" rating and issued a $19.05 price objective (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Piper Sandler reaffirmed an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Robert W. Baird reissued a "neutral" rating and set a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Finally, Mizuho boosted their price target on shares of Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average price target of $293.67.

Insider Buying and Selling at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president now directly owns 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by insiders.

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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