Wellington Management Group LLP cut its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,665,493 shares of the electric vehicle producer’s stock after selling 150,584 shares during the quarter. Wellington Management Group LLP owned about 0.08% of Tesla worth $662,322,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in TSLA. Norges Bank bought a new stake in shares of Tesla in the fourth quarter valued at $7,844,757,000. International Assets Investment Management LLC raised its stake 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 valued at $1,541,273,000 after buying an additional 6,179,032 shares during the period. Vanguard Group Inc. grew 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 valued at $56,534,710,000 after purchasing an additional 3,453,078 shares in the last quarter. Morgan Stanley grew 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 valued at $7,546,823,000 after purchasing an additional 2,177,397 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew 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 valued at $365,064,000 after purchasing an additional 1,402,443 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.
Insider Activity
In other 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 transaction of $113,236.50. Following the transaction, 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 through this link. In other 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 transaction of $113,236.50. Following the transaction, 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 through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was 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 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 104,855 shares of company stock valued at $19,285,643 in the last ninety days. 20.90% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price target on shares of Tesla in a research report on Monday, April 22nd. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research report on Wednesday, April 24th. Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research report on Wednesday, April 24th. Finally, Robert W. Baird restated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Wednesday, April 17th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $185.90.
Get Our Latest Research Report on TSLA
Tesla Stock Down 2.4 %
TSLA stock opened at $178.01 on Monday. The business’s 50 day moving average price is $172.90 and its two-hundred day moving average price is $194.98. 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. The company has a market capitalization of $567.71 billion, a price-to-earnings ratio of 45.41, a price-to-earnings-growth ratio of 4.41 and a beta of 2.32.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, analysts forecast that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.
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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