Waterfront Wealth Inc. Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Waterfront Wealth Inc. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,867 shares of the electric vehicle producer’s stock after purchasing an additional 84 shares during the period. Waterfront Wealth Inc.’s holdings in Tesla were worth $961,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Tesla by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock valued at $56,534,710,000 after purchasing an additional 3,453,078 shares in the last quarter. State Street Corp raised its position in Tesla by 0.7% during the 1st quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock valued at $20,680,162,000 after purchasing an additional 685,454 shares in the last quarter. Morgan Stanley raised its position 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 raised its position 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 bought a new position in shares of Tesla in the 4th quarter worth $3,459,540,000. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. JPMorgan Chase & Co. reduced their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Wednesday. The Goldman Sachs Group reduced their price target on Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Finally, Wedbush reduced their target price on Tesla from $315.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 28th. Ten research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $194.70.

Tesla Stock Performance

Shares of TSLA traded down $6.15 during mid-day trading on Thursday, reaching $149.30. The company had a trading volume of 26,105,533 shares, compared to its average volume of 100,779,156. Tesla, Inc. has a 52-week low of $148.70 and a 52-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 stock has a market capitalization of $475.49 billion, a P/E ratio of 36.07, a PEG ratio of 4.15 and a beta of 2.39. The stock has a 50 day moving average of $180.24 and a two-hundred day moving average of $212.64.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. During the same quarter in the previous year, the company earned $1.07 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, analysts expect that Tesla, Inc. will post 1.97 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.