Means Investment CO. Inc. Has $2.25 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Means Investment CO. Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,052 shares of the electric vehicle producer’s stock after purchasing an additional 688 shares during the quarter. Means Investment CO. Inc.’s holdings in Tesla were worth $2,249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after acquiring an additional 3,453,078 shares in the last quarter. State Street Corp boosted its holdings in shares of Tesla by 0.7% in the 1st quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock worth $20,680,162,000 after acquiring an additional 685,454 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. FMR LLC boosted its holdings in shares of Tesla by 0.9% in the 3rd quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after acquiring an additional 269,182 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Tesla in the 4th quarter worth approximately $3,459,540,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on TSLA shares. Redburn Atlantic initiated coverage on Tesla in a report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price on the stock. Guggenheim boosted their price objective on shares of Tesla from $125.00 to $132.00 and gave the stock a “sell” rating in a research report on Friday, December 15th. TD Cowen dropped their price objective on shares of Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $298.00 price objective on shares of Tesla in a research report on Wednesday, March 27th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $201.63.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $6.21 during midday trading on Friday, hitting $164.90. The stock had a trading volume of 136,439,809 shares, compared to its average volume of 87,880,752. The company’s 50-day moving average price is $183.42 and its 200-day moving average price is $217.19. Tesla, Inc. has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $525.17 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 3.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 2.33 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 in the last 90 days. 25.10% of the stock is owned by corporate 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.