Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Wright Investors Service Inc.

Wright Investors Service Inc. increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 112.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 12,733 shares of the electric vehicle producer’s stock after buying an additional 6,753 shares during the period. Tesla makes up about 1.1% of Wright Investors Service Inc.’s portfolio, making the stock its 27th largest holding. Wright Investors Service Inc.’s holdings in Tesla were worth $3,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Group Ltd. acquired a new position in Tesla during the 4th quarter valued at about $275,000. Comprehensive Financial Planning Inc. PA acquired a new position in Tesla during the 4th quarter valued at about $1,361,000. Tallon Kerry Patrick acquired a new position in Tesla during the 4th quarter valued at about $374,000. Eagle Capital Management LLC acquired a new position in Tesla during the 4th quarter valued at about $331,000. Finally, Brighton Jones LLC lifted its stake in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA opened at $349.09 on Friday. The company’s 50 day moving average price is $286.92 and its 200 day moving average price is $333.97. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company has a market capitalization of $1.12 trillion, a PE ratio of 171.12, a PEG ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TSLA shares. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Bank of America reduced their price target on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Robert W. Baird reduced their price target on shares of Tesla from $370.00 to $320.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. HSBC reduced their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research note on Thursday, March 27th. Finally, UBS Group reduced their price target on shares of Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $293.97.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the transaction, the chief financial officer now directly owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. The trade was a 20.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 984,783 shares of company stock valued at $320,019,942. Corporate insiders own 20.70% of the company’s stock.

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.