Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Diligent Investors LLC

Diligent Investors LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,096 shares of the electric vehicle producer’s stock after purchasing an additional 1,099 shares during the period. Diligent Investors LLC’s holdings in Tesla were worth $2,098,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Tesla by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Geode Capital Management LLC boosted its position 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 worth $24,566,217,000 after acquiring an additional 1,655,203 shares during the period. Norges Bank acquired a new stake in Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC boosted its position in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of 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 buying 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 at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 870,721 shares of company stock worth $286,248,728. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSLA. Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and lifted their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Canaccord Genuity Group reduced their price target on Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. HSBC cut their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Finally, Mizuho raised their price objective on Tesla from $325.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $293.97.

Tesla Trading Down 3.5%

Shares of TSLA opened at $332.05 on Thursday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The firm has a market capitalization of $1.07 trillion, a PE ratio of 162.77, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The stock’s fifty day simple moving average is $291.12 and its 200-day simple moving average is $334.34.

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 the consensus estimate 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 analyst estimates of $22.93 billion. During the same period last year, the company earned $0.45 EPS. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.