Northwest Investment Counselors LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,585 shares of the electric vehicle producer’s stock, valued at approximately $279,000.
A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Tesla by 1.7% in the 4th 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 last quarter. Norges Bank bought a new position in shares of Tesla in the 4th quarter valued at $7,844,757,000. Morgan Stanley boosted its holdings in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Tesla by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after acquiring an additional 458,804 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Tesla by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 6,702,634 shares of the electric vehicle producer’s stock worth $1,677,133,000 after purchasing an additional 19,887 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.
Tesla Stock Down 0.2 %
Tesla stock opened at $182.58 on Tuesday. 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 firm’s fifty day moving average price is $174.41 and its two-hundred day moving average price is $192.65. The firm has a market capitalization of $582.28 billion, a price-to-earnings ratio of 46.58, a price-to-earnings-growth ratio of 4.54 and a beta of 2.32. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.
Tesla (NASDAQ:TSLA – Get Free Report) last announced 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. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. On average, equities research analysts predict that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently commented on TSLA shares. Piper Sandler reissued an “overweight” rating and set a $205.00 price target on shares of Tesla in a research note on Monday, April 22nd. HSBC reduced their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a report on Wednesday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 price target on shares of Tesla in a research note on Monday. Barclays reduced their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, June 10th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $182.68.
Get Our Latest Analysis on TSLA
Insider Activity at Tesla
In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which is accessible 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 transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 104,855 shares of company stock valued at $19,285,643 over the last 90 days. Insiders own 20.90% of the company’s stock.
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.
Further Reading
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