Abbrea Capital LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Abbrea Capital LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,541 shares of the electric vehicle producer’s stock after buying an additional 1,947 shares during the quarter. Abbrea Capital LLC’s holdings in Tesla were worth $2,868,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC raised its stake in Tesla by 1.0% during the third quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after buying an additional 42 shares in the last quarter. Holderness Investments Co. raised its stake in Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after buying an additional 42 shares in the last quarter. Wagner Wealth Management LLC grew its holdings in shares of Tesla by 1.3% during the third quarter. Wagner Wealth Management LLC now owns 3,384 shares of the electric vehicle producer’s stock valued at $847,000 after purchasing an additional 44 shares during the last quarter. SCS Capital Management LLC grew its holdings in shares of Tesla by 0.3% during the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock valued at $4,224,000 after purchasing an additional 45 shares during the last quarter. Finally, Daymark Wealth Partners LLC grew its holdings in shares of Tesla by 0.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

TSLA traded down $1.89 during midday trading on Friday, reaching $168.29. 109,363,363 shares of the company’s stock were exchanged, compared to its average volume of 103,381,336. The firm has a market capitalization of $535.97 billion, a price-to-earnings ratio of 43.44, a price-to-earnings-growth ratio of 4.28 and a beta of 2.39. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The business has a 50-day simple moving average of $175.67 and a two-hundred day simple moving average of $208.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 EPS. As a group, research analysts predict that Tesla, Inc. will post 1.97 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,098 shares of company stock valued at $38,802,534. Company insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank of Canada cut their target price on Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $205.00 price objective on shares of Tesla in a research report on Monday. UBS Group cut their price objective on Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Daiwa Capital Markets downgraded Tesla from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $245.00 to $195.00 in a research report on Tuesday, February 6th. Eight investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $186.70.

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.