Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 21.3% in the 4th quarter, Holdings Channel reports. The fund owned 7,245 shares of the electric vehicle producer’s stock after purchasing an additional 1,272 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Tesla were worth $2,926,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in 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 buying an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after acquiring an additional 1,655,203 shares in the last quarter. Norges Bank purchased a new position in Tesla in the fourth quarter valued at about $14,420,248,000. FMR LLC grew 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. Finally, Northern Trust Corp increased its holdings 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 worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on TSLA shares. Morgan Stanley reissued a “buy” rating and set a $430.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a report on Tuesday, April 22nd. Canaccord Genuity Group dropped their target price on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada reduced their price target on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $289.43.

Tesla Trading Up 2.1%

Tesla stock opened at $349.98 on Friday. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $1.13 trillion, a PE ratio of 171.56, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The firm has a 50 day simple moving average of $267.35 and a 200-day simple moving average of $330.09.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the business posted $0.45 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $300.00, for a total value of $1,200,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $8,085,000. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 412,623 shares of company stock valued at $115,600,501 over the last three months. Company insiders own 20.70% of the company’s stock.

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.