GLOBALT Investments LLC GA bought a new position in Tesla, Inc. (NASDAQ:TSLA – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,255 shares of the electric vehicle producer’s stock, valued at approximately $4,288,000.
A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Tesla in the fourth quarter worth $7,844,757,000. International Assets Investment Management LLC boosted its position in shares of Tesla by 25,990.7% in the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the period. Vanguard Group Inc. boosted its position in shares of Tesla by 1.6% in the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after buying an additional 3,453,078 shares during the period. Morgan Stanley boosted its position 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 period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Tesla by 2,101.1% in the fourth 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. 66.20% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Tesla
In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders have sold 104,855 shares of company stock valued at $19,285,643 in the last 90 days. 25.10% of the stock is currently owned by company insiders.
Tesla Stock Performance
Shares of Tesla stock opened at $178.01 on Friday. The company has a market capitalization of $567.71 billion, a PE ratio of 45.41, a PEG ratio of 4.53 and a beta of 2.32. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $172.90 and its 200 day simple moving average is $195.33.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. On average, research analysts predict that Tesla, Inc. will post 1.87 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Wednesday, April 24th. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research report on Wednesday, April 24th. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, June 10th. Finally, China Renaissance began coverage on Tesla in a research report on Monday, February 26th. They set a “hold” rating for the company. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $185.90.
Read Our Latest Stock Analysis on Tesla
Tesla 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.
Further Reading
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