N.E.W. Advisory Services LLC Has $1.02 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

N.E.W. Advisory Services LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,941 shares of the electric vehicle producer’s stock after buying an additional 889 shares during the quarter. N.E.W. Advisory Services LLC’s holdings in Tesla were worth $1,021,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TSLA. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla during the 4th quarter worth about $56,600,000. Means Investment CO. Inc. grew its stake in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. raised its holdings in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after acquiring an additional 670 shares during the period. IFM Investors Pty Ltd lifted its position in Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after acquiring an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new stake in shares of Tesla during the fourth quarter worth approximately $8,158,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TSLA shares. Cantor Fitzgerald reduced their price target on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley reissued an “overweight” rating and issued a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. BNP Paribas set a $137.00 price target on shares of Tesla and gave the stock an “underperform” rating in a research report on Wednesday, April 16th. Argus reissued a “hold” rating on shares of Tesla in a report on Monday, June 9th. Finally, Roth Mkm lowered their target price on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $302.75.

Tesla Price Performance

Shares of TSLA opened at $325.59 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.05 trillion, a PE ratio of 188.20, a PEG ratio of 9.93 and a beta of 2.39. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The business has a 50-day simple moving average of $324.37 and a two-hundred day simple moving average of $313.04.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company’s stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 723,119 shares of company stock valued at $247,324,149. 20.70% of the stock is owned by 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.