Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Financial Perspectives Inc

Financial Perspectives Inc increased its position in Tesla, Inc. (NASDAQ:TSLA) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,620 shares of the electric vehicle producer’s stock after acquiring an additional 143 shares during the period. Financial Perspectives Inc’s holdings in Tesla were worth $1,339,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Tesla in the fourth quarter worth about $7,844,757,000. International Assets Investment Management LLC grew its holdings in Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares during the period. Morgan Stanley lifted its stake in shares of Tesla by 7.8% in the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after buying an additional 1,402,443 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wedbush lifted their target price on shares of Tesla from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday. HSBC dropped their price target on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 24th. Jefferies Financial Group reduced their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lowered their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 3rd. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $189.47.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $15.13 during mid-day trading on Thursday, hitting $246.39. The company had a trading volume of 166,561,471 shares, compared to its average volume of 80,957,576. The stock’s 50-day moving average price is $182.57 and its 200-day moving average price is $191.32. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The company has a market capitalization of $785.79 billion, a price-to-earnings ratio of 62.85, a P/E/G ratio of 5.74 and a beta of 2.31. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. On average, sell-side analysts forecast that Tesla, Inc. will post 1.86 earnings per share for the current year.

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.