Wellington Management Group LLP Has $2.30 Billion Position in Tesla, Inc. $TSLA

Key Points

• Wellington Management Group LLP reduced its stake in Tesla by 12.6%, now holding 8,888,253 shares valued at approximately $2.30 billion.
• Several institutional investors have increased their positions in Tesla, with Goldman Sachs increasing its stake by 322.1%.
• Analysts have mixed ratings on Tesla's stock, with a consensus rating of "Hold" and a target price of $303.31.

Wellington Management Group LLP decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,888,253 shares of the electric vehicle producer's stock after selling 1,285,882 shares during the quarter. Wellington Management Group LLP owned about 0.28% of Tesla worth $2,303,480,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC boosted its holdings in shares of 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 acquiring an additional 31 shares during the period. Navigoe LLC acquired a new stake in Tesla in the fourth quarter worth about $37,000. Cherry Tree Wealth Management LLC lifted its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank lifted its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Tesla in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $3.79 during trading hours on Thursday, hitting $320.11. 55,337,502 shares of the stock were exchanged, compared to its average volume of 104,971,656. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company's 50 day moving average is $320.96 and its 200 day moving average is $304.40. The firm has a market capitalization of $1.03 trillion, a P/E ratio of 185.03, a P/E/G ratio of 11.45 and a beta of 2.33. Tesla, Inc. has a one year low of $202.59 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The firm's revenue was down 11.8% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was 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 of the company's stock, valued at approximately $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 599,724 shares of company stock valued at $213,126,501 in the last ninety days. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. William Blair downgraded shares of Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Glj Research reissued a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat, Tesla has a consensus rating of "Hold" and an average price target of $303.31.

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.