Weaver Capital Management LLC Has $1.98 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Weaver Capital Management LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 941.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,623 shares of the electric vehicle producer's stock after buying an additional 6,891 shares during the period. Weaver Capital Management LLC's holdings in Tesla were worth $1,976,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new position in shares of Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC increased its stake in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Tesla by 21.6% during 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 purchasing an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TSLA. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Wedbush reaffirmed an "outperform" rating and set a $500.00 target price on shares of Tesla in a report on Friday. Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Benchmark reaffirmed a "buy" rating and set a $350.00 target price on shares of Tesla in a report on Wednesday, April 23rd. Finally, TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and lifted their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $293.67.

Tesla Stock Up 0.0%

Shares of TSLA opened at $322.16 on Friday. Tesla, Inc. has a one year low of $180.69 and a one year high of $488.54. The company has a market cap of $1.04 trillion, a P/E ratio of 177.01, a P/E/G ratio of 12.04 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The firm has a 50 day simple moving average of $306.22 and a two-hundred day simple moving average of $332.14.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92% 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, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director now owns 855,394 shares of the company's stock, 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. Over the last ninety days, insiders sold 833,509 shares of company stock worth $278,648,925. Corporate 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.

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