MADDEN SECURITIES Corp Purchases 1,344 Shares of Tesla, Inc. (NASDAQ:TSLA)

MADDEN SECURITIES Corp boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,509 shares of the electric vehicle producer’s stock after acquiring an additional 1,344 shares during the period. Tesla accounts for 1.3% of MADDEN SECURITIES Corp’s investment portfolio, making the stock its 24th biggest holding. MADDEN SECURITIES Corp’s holdings in Tesla were worth $3,242,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TSLA. Vanguard Group Inc. grew its position in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after buying an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Tesla by 2.8% in 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 shares of Tesla during the 4th quarter worth approximately $14,420,248,000. FMR LLC increased its position in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 4.6%

Shares of TSLA opened at $308.58 on Tuesday. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The firm has a market capitalization of $993.92 billion, a price-to-earnings ratio of 151.27, a PEG ratio of 5.86 and a beta of 2.47. The firm’s 50-day moving average price is $292.68 and its 200-day moving average price is $333.20. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

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 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 analysts’ expectations of $22.93 billion. During the same period in the prior year, the business posted $0.45 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Guggenheim reissued a “sell” rating and issued a $170.00 price target on shares of Tesla in a research report on Thursday, April 24th. Roth Mkm decreased their price objective on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and upped their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, Truist Financial set a $280.00 target price on Tesla in a report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $293.67.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the chief financial officer now owns 1,950 shares in the company, valued at $682,500. The trade was a 33.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Gebbia bought 4,000 shares of the stock in a transaction on Thursday, April 24th. The shares were bought at an average price of $256.31 per share, for a total transaction of $1,025,240.00. Following the purchase, the director now directly owns 4,111 shares in the company, valued at approximately $1,053,690.41. This trade represents a 3,603.60% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is owned by insiders.

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.