Tesla, Inc. (NASDAQ:TSLA) Stake Raised by Your Advocates Ltd. LLP

Your Advocates Ltd. LLP boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3,900.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 400 shares of the electric vehicle producer’s stock after acquiring an additional 390 shares during the quarter. Your Advocates Ltd. LLP’s holdings in Tesla were worth $104,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Tesla by 2.8% during 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 in the last quarter. 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 acquiring an additional 9,920,325 shares in the last quarter. Northern Trust Corp grew 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 acquiring an additional 5,075,418 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tesla by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer’s stock valued at $9,908,828,000 after acquiring an additional 158,697 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Tesla by 19.8% during the 4th quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer’s stock valued at $5,294,010,000 after acquiring an additional 2,170,449 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 3.0%

TSLA opened at $325.59 on Tuesday. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 188.20, a P/E/G ratio of 9.93 and a beta of 2.39. The business has a 50 day moving average of $324.37 and a 200-day moving average of $313.04.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TSLA shares. Canaccord Genuity Group lifted their target price on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Piper Sandler reiterated an “overweight” rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Royal Bank Of Canada reduced their price target on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Finally, Wedbush reiterated an “outperform” rating and set a $500.00 price target on shares of Tesla in a report on Tuesday, July 22nd. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $302.75.

Insiders Place Their Bets

In related 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 value of $30,809,717.40. Following the completion of the transaction, the director directly owned 85,000 shares in the company, valued at approximately $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 through this hyperlink. Also, 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 value of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 723,119 shares of company stock valued at $247,324,149 in the last ninety days. 20.70% of the stock is currently owned by insiders.

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.