Wealthedge Investment Advisors LLC Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

Wealthedge Investment Advisors LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,801 shares of the electric vehicle producer's stock, valued at approximately $1,939,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Vanguard Group Inc. grew its stake in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after buying an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC grew its holdings in Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after buying an additional 1,655,203 shares in the last quarter. Norges Bank bought a new position in Tesla during the 4th quarter worth $14,420,248,000. FMR LLC lifted its holdings in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Trading Down 2.6%

Shares of TSLA stock traded down $9.34 during mid-day trading on Friday, reaching $349.09. 122,828,998 shares of the stock traded hands, compared to its average volume of 97,952,455. The company has a market cap of $1.12 trillion, a price-to-earnings ratio of 171.12, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. 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 stock's fifty day simple moving average is $285.70 and its two-hundred day simple moving average is $333.80. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director now owns 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 SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the transaction, the chief financial officer now directly owns 23,084 shares in the company, valued at approximately $6,833,325.68. This represents a 20.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 984,783 shares of company stock worth $320,019,942. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TSLA shares. Royal Bank of Canada lowered their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Mizuho raised their target price on shares of Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Raymond James downgraded Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Finally, Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price 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.