EP Wealth Advisors LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,864 shares of the electric vehicle producer's stock after acquiring an additional 21,146 shares during the quarter. EP Wealth Advisors LLC's holdings in Tesla were worth $23,807,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. lifted its stake in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Nuveen LLC acquired a new position in Tesla during the first quarter worth $3,247,619,000. GAMMA Investing LLC lifted its stake in Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Vanguard Group Inc. lifted its stake in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Tesla by 54.3% during the first quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock worth $2,193,728,000 after purchasing an additional 2,978,026 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,564 shares of company stock worth $49,396,070 in the last ninety days. Insiders own 20.70% of the company's stock.
Wall Street Analyst Weigh In
TSLA has been the topic of several analyst reports. William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Piper Sandler reiterated an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Mizuho dropped their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Finally, China Renaissance reaffirmed a "hold" rating and issued a $349.00 price target on shares of Tesla in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $303.31.
View Our Latest Stock Report on TSLA
Tesla Price Performance
Shares of NASDAQ:TSLA traded up $3.16 during trading on Thursday, hitting $337.25. 50,456,862 shares of the stock were exchanged, compared to its average volume of 103,325,469. The company has a fifty day moving average price of $323.20 and a two-hundred day moving average price of $302.79. The company has a market cap of $1.09 trillion, a PE ratio of 194.94, a P/E/G ratio of 11.61 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $210.51 and a 12-month high of $488.54.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company's revenue for the quarter was down 11.8% on a year-over-year basis. On average, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.
Tesla Company Profile
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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.
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