New World Advisors LLC Increases Position in Tesla, Inc. $TSLA

New World Advisors LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 174.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,237 shares of the electric vehicle producer’s stock after buying an additional 1,423 shares during the quarter. Tesla comprises about 0.2% of New World Advisors LLC’s holdings, making the stock its 23rd largest position. New World Advisors LLC’s holdings in Tesla were worth $711,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after acquiring an additional 4,502,976 shares during the period. Geode Capital Management LLC raised its stake in shares of Tesla by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after buying an additional 1,269,304 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Legal & General Group Plc lifted its holdings in Tesla by 5.9% in the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after acquiring an additional 1,134,678 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after purchasing an additional 849,091 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $391.09 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 260.73, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a 50 day moving average price of $433.55 and a 200 day moving average price of $364.31.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on TSLA shares. Cantor Fitzgerald set a $510.00 price objective on shares of Tesla and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Wedbush reaffirmed an “outperform” rating and issued a $600.00 target price on shares of Tesla in a research note on Wednesday, November 5th. HSBC reissued a “reduce” rating on shares of Tesla in a research report on Monday. Weiss Ratings restated a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $394.31.

Tesla 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.