Novak & Powell Financial Services Inc. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,285 shares of the electric vehicle producer’s stock, valued at approximately $568,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Tesla by 1.6% during the 3rd 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 last quarter. Norges Bank acquired a new position in Tesla during the fourth quarter worth about $7,844,757,000. Morgan Stanley lifted its holdings 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 acquiring an additional 2,177,397 shares during the last quarter. FMR LLC boosted its stake in shares of Tesla by 0.9% in the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after purchasing an additional 269,182 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Tesla by 3.4% during the 3rd quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after purchasing an additional 909,170 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Tesla
In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’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 sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. 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. Over the last three months, insiders have sold 104,855 shares of company stock valued at $19,285,643. Corporate insiders own 25.10% of the company’s stock.
Tesla Stock Down 2.4 %
TSLA stock opened at $178.01 on Friday. The stock’s 50 day simple moving average is $172.90 and its 200 day simple moving average is $195.33. The company has a market cap of $567.71 billion, a P/E ratio of 45.41, a price-to-earnings-growth ratio of 4.53 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. On average, research analysts expect 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 weighed in on TSLA shares. Truist Financial cut their target price on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Wedbush restated an “outperform” rating and set a $275.00 price objective on shares of Tesla in a research report on Friday. Barclays dropped their target price on Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Wells Fargo & Company reduced their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, April 12th. Finally, Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $185.90.
Get Our Latest Stock Report on Tesla
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.
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