Watts Gwilliam & Co. LLC Has $5.65 Million Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Watts Gwilliam & Co. LLC increased its position in Tesla, Inc. by 59.5%, acquiring an additional 8,132 shares, bringing its total holdings to 21,798 shares valued at approximately $5.65 million.
• Institutional investors own 66.20% of Tesla's stock, indicating significant confidence in the company's future performance.
• Recent analyst ratings show Tesla's stock has a consensus rating of "Hold" with an average price target of $303.31, reflecting mixed sentiments about the stock's outlook.

Watts Gwilliam & Co. LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 59.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,798 shares of the electric vehicle producer's stock after buying an additional 8,132 shares during the quarter. Tesla makes up approximately 1.2% of Watts Gwilliam & Co. LLC's portfolio, making the stock its 21st largest position. Watts Gwilliam & Co. LLC's holdings in Tesla were worth $5,649,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Northern Trust Corp lifted its stake 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 in the last quarter. Goldman Sachs Group Inc. lifted its stake in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tesla by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after buying an additional 158,697 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after buying an additional 849,091 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. Canaccord Genuity Group lifted their target price on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Morgan Stanley reissued an "overweight" rating and set a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. China Renaissance reissued a "hold" rating and set a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Finally, Wedbush reissued an "outperform" rating and set a $500.00 target price on shares of Tesla in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have issued a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus price target of $303.31.

Tesla Stock Performance

Tesla stock traded down $5.41 on Wednesday, reaching $323.90. 77,278,884 shares of the stock were exchanged, compared to its average volume of 105,285,383. The stock has a market cap of $1.04 trillion, a PE ratio of 187.23, a PEG ratio of 11.65 and a beta of 2.33. 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 twelve month low of $202.59 and a twelve month high of $488.54. The firm has a fifty day moving average price of $321.01 and a two-hundred day moving average price of $304.26.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated 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 completion of the transaction, the director owned 1,463,220 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. This represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock worth $213,126,501 in the last 90 days. Insiders own 20.70% of the company's stock.

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.