Tesla, Inc. (NASDAQ:TSLA) Shares Bought by CVA Family Office LLC

CVA Family Office LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,375 shares of the electric vehicle producer’s stock after purchasing an additional 178 shares during the period. CVA Family Office LLC’s holdings in Tesla were worth $1,911,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in TSLA. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after acquiring an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Tesla by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock valued at $24,566,217,000 after acquiring an additional 1,655,203 shares during the last quarter. Norges Bank bought a new stake in shares of Tesla in the 4th quarter valued at approximately $14,420,248,000. FMR LLC increased its holdings in shares of Tesla by 40.1% in 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 acquiring an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Tesla by 21.6% in 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 acquiring an additional 5,075,418 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Joseph Gebbia bought 4,000 shares of Tesla stock in a transaction dated Thursday, April 24th. The stock was acquired at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the acquisition, the director now directly owns 4,111 shares in the company, valued at approximately $1,053,690.41. This trade represents a 3,603.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 1,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 818,509 shares of company stock worth $273,791,775 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TSLA. The Goldman Sachs Group lowered their price target on Tesla from $295.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, June 6th. Piper Sandler reiterated an “overweight” rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday. UBS Group lowered their price target on Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a report on Thursday, April 10th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Finally, Guggenheim restated a “sell” rating and set a $170.00 price objective on shares of Tesla in a research note on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $293.67.

Tesla Trading Up 1.9%

Shares of Tesla stock opened at $325.31 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The business has a fifty day simple moving average of $299.39 and a 200-day simple moving average of $332.88. Tesla, Inc. has a fifty-two week low of $176.92 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the company earned $0.45 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS 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.