TIAA Trust National Association grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,704 shares of the electric vehicle producer's stock after acquiring an additional 2,639 shares during the period. TIAA Trust National Association's holdings in Tesla were worth $24,803,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. Rinkey Investments boosted its stake in Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after buying an additional 29 shares during the period. True Wealth Design LLC boosted its stake in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the period. Aldebaran Financial Inc. boosted its stake in Tesla by 3.1% during the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after buying an additional 35 shares during the period. Acorn Wealth Advisors LLC boosted its stake in Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after buying an additional 36 shares during the period. Finally, Capital Management Associates Inc boosted its stake in Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. HSBC restated a "reduce" rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. China Renaissance reaffirmed a "hold" rating and set a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $303.31.
Check Out Our Latest Research Report on Tesla
Tesla Stock Performance
TSLA stock opened at $302.63 on Friday. The stock has a market capitalization of $976.12 billion, a PE ratio of 174.93, a price-to-earnings-growth ratio of 10.63 and a beta of 2.33. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock's 50 day simple moving average is $322.22 and its 200 day simple moving average is $311.03.
Tesla (NASDAQ:TSLA - Get Free Report) last released 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). The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue was down 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Robyn M. Denholm sold 112,395 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares of the company's stock, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares in the company, valued at $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 a total of 719,119 shares of company stock worth $246,186,549 in the last three months. Corporate insiders own 20.70% of the company's stock.
About Tesla
(
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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