Global Assets Advisory LLC Acquires 22,174 Shares of Tesla, Inc. (NASDAQ:TSLA)

Global Assets Advisory LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 291.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,781 shares of the electric vehicle producer’s stock after buying an additional 22,174 shares during the quarter. Tesla comprises about 1.4% of Global Assets Advisory LLC’s portfolio, making the stock its 15th biggest position. Global Assets Advisory LLC’s holdings in Tesla were worth $7,552,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $14,420,248,000. FMR LLC increased its position in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the chief financial officer now owns 1,950 shares of the company’s stock, valued at approximately $682,500. This represents a 33.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total value of $32,096,336.20. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $24,274,300. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 over the last ninety days. 20.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TSLA. Bank of America reduced their price objective on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Wedbush reissued an “outperform” rating and set a $500.00 price objective on shares of Tesla in a report on Friday, June 20th. Truist Financial set a $280.00 price objective on Tesla in a report on Tuesday, April 22nd. Roth Mkm cut their price target on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $294.58.

Tesla Price Performance

NASDAQ TSLA opened at $327.55 on Thursday. The business’s fifty day moving average is $311.59 and its 200 day moving average is $331.45. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The company has a market capitalization of $1.06 trillion, a PE ratio of 179.97, a price-to-earnings-growth ratio of 12.73 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company 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.