Gerber Kawasaki Wealth & Investment Management Has $70.85 Million Stock Holdings in Tesla, Inc. $TSLA

Gerber Kawasaki Wealth & Investment Management lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 223,046 shares of the electric vehicle producer’s stock after selling 12,873 shares during the period. Tesla accounts for 2.7% of Gerber Kawasaki Wealth & Investment Management’s holdings, making the stock its 9th biggest holding. Gerber Kawasaki Wealth & Investment Management’s holdings in Tesla were worth $70,853,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Siren L.L.C. acquired a new stake in Tesla during the first quarter worth approximately $2,332,000. Zuckerman Investment Group LLC boosted its holdings in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after buying an additional 826 shares in the last quarter. Norges Bank acquired a new stake in shares of Tesla during the 2nd quarter worth approximately $11,839,824,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Tesla by 5.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock valued at $135,688,000 after acquiring an additional 22,607 shares in the last quarter. Finally, Keystone Global Partners LLC acquired a new position in shares of Tesla during the 1st quarter valued at $594,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TSLA shares. Benchmark reaffirmed a “buy” rating on shares of Tesla in a research note on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Canaccord Genuity Group cut their price target on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Finally, Morgan Stanley set a $425.00 price target on shares of Tesla in a research report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $399.33.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $455.00 on Monday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.51 trillion, a PE ratio of 303.33, a price-to-earnings-growth ratio of 15.37 and a beta of 1.87. The stock’s fifty day simple moving average is $434.93 and its two-hundred day simple moving average is $372.88. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.