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Manning & Napier Advisors LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) in the 1st quarter, HoldingsChannel reports. The firm acquired 1,791 shares of the electric vehicle producer’s stock, valued at approximately $464,000.
A number of other hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Tesla during the fourth quarter worth $56,600,000. Means Investment CO. Inc. boosted its position in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Focus Financial Network Inc. grew its stake in Tesla by 3.1% during 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 in the last quarter. Strategic Family Wealth Counselors L.L.C. raised its holdings in Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after acquiring an additional 1,629 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new position in Tesla in the 4th quarter worth approximately $8,158,000. Institutional investors and hedge funds own 66.20% of the company’s stock.
Insider Transactions at Tesla
In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president now owns 67,600 shares of the company’s stock, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by corporate insiders.
Tesla Stock Performance
Shares of TSLA stock opened at $348.68 on Tuesday. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The firm has a 50 day moving average of $308.14 and a two-hundred day moving average of $331.42. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.12 trillion, a PE ratio of 191.58, a P/E/G ratio of 12.05 and a beta of 2.47.
Tesla (NASDAQ:TSLA – Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the firm earned $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.
Wall Street Analyst Weigh In
TSLA has been the subject of several recent research reports. Truist Financial set a $280.00 price target on Tesla in a report on Tuesday, April 22nd. Robert W. Baird reaffirmed a “neutral” rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Barclays reduced their price target on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Morgan Stanley reissued an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Finally, Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $294.58.
Check Out Our Latest Research Report on Tesla
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.
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