675,831 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 675,831 shares of the electric vehicle producer's stock, valued at approximately $272,928,000. Tesla makes up about 0.9% of Lord Abbett & CO. LLC's portfolio, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Tesla by 1.5% during the fourth 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 in the last quarter. Geode Capital Management LLC raised its stake in Tesla by 2.8% during the fourth 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 acquired a new stake in shares of Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC lifted its holdings in shares of Tesla by 40.1% in 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, Charles Schwab Investment Management Inc. boosted its position in Tesla by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,325,850 shares of the electric vehicle producer's stock valued at $6,996,871,000 after purchasing an additional 780,026 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 topic of a number of recent research reports. Robert W. Baird cut their target price on Tesla from $370.00 to $320.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Bank of America reduced their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Argus set a $410.00 price target on shares of Tesla in a report on Thursday. Finally, New Street Research upgraded shares of Tesla from a "neutral" rating to a "buy" rating and set a $460.00 price objective on the stock in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $287.46.

Tesla Stock Down 0.7 %

NASDAQ:TSLA traded down $1.86 on Tuesday, hitting $284.02. 62,197,390 shares of the company's stock traded hands, compared to its average volume of 96,066,998. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The firm has a 50-day moving average price of $262.49 and a 200-day moving average price of $324.09. The company has a market cap of $913.55 billion, a PE ratio of 139.37, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58.

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

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 374,228 shares of company stock valued at $123,791,123. 20.70% of the stock is owned by corporate insiders.

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.