Echo45 Advisors LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Echo45 Advisors LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 79.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,229 shares of the electric vehicle producer’s stock after acquiring an additional 989 shares during the period. Tesla accounts for about 0.4% of Echo45 Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Echo45 Advisors LLC’s holdings in Tesla were worth $578,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TSLA. Norges Bank bought a new stake in Tesla during the 4th quarter valued at about $14,420,248,000. FMR LLC increased its stake in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC increased its stake in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Tesla by 4,963.0% during the 4th 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 purchasing an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TSLA. Morgan Stanley restated an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Mizuho lifted their price target on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Cfra Research lowered shares of Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Roth Mkm reduced their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $293.67.

Tesla Price Performance

TSLA stock opened at $326.43 on Thursday. Tesla, Inc. has a one year low of $169.80 and a one year high of $488.54. The company’s fifty day moving average price is $295.60 and its 200-day moving average price is $333.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market capitalization of $1.05 trillion, a PE ratio of 160.02, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period last year, the firm posted $0.45 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director now owns 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. The trade was a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is currently owned by corporate insiders.

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.