Tesla, Inc. (NASDAQ:TSLA) is Rhumbline Advisers' 10th Largest Position

Rhumbline Advisers grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,224,516 shares of the electric vehicle producer's stock after acquiring an additional 20,295 shares during the quarter. Tesla comprises about 1.3% of Rhumbline Advisers' investment portfolio, making the stock its 10th biggest holding. Rhumbline Advisers owned 0.16% of Tesla worth $1,353,985,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in TSLA. True Wealth Design LLC lifted its stake in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. raised its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. raised its stake in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares during the period. Navigoe LLC bought a new stake in Tesla during the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Tesla in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $7,242,273.50. This represents a 9.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 866,393 shares of company stock valued at $284,570,654 in the last three months. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of TSLA stock traded down $3.77 during trading hours on Monday, hitting $342.69. 81,499,066 shares of the company's stock were exchanged, compared to its average volume of 98,086,863. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.10 trillion, a P/E ratio of 167.99, a P/E/G ratio of 5.86 and a beta of 2.43. The firm has a 50 day moving average of $286.92 and a two-hundred day moving average of $334.13. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54.

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 for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the company earned $0.45 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. HSBC dropped their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research note on Thursday, March 27th. Wells Fargo & Company decreased their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Glj Research reiterated a "sell" rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Finally, Truist Financial set a $280.00 price objective on Tesla in a report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $293.97.

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.