McBroom & Associates LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

McBroom & Associates LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,796 shares of the electric vehicle producer’s stock after buying an additional 400 shares during the period. Tesla comprises 3.5% of McBroom & Associates LLC’s investment portfolio, making the stock its 15th largest position. McBroom & Associates LLC’s holdings in Tesla were worth $6,167,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Norges Bank acquired a new position in Tesla during the fourth quarter valued at approximately $14,420,248,000. FMR LLC lifted 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 worth $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were 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 directly owns 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock valued at $273,791,775 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

TSLA stock opened at $325.31 on Friday. The company has a market capitalization of $1.05 trillion, a P/E ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. The company has a 50-day simple moving average of $299.39 and a 200 day simple moving average of $332.88. Tesla, Inc. has a fifty-two week low of $177.00 and a fifty-two week high of $488.54. 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 (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the company earned $0.45 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TSLA shares. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Piper Sandler reissued an “overweight” rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday. Barclays reduced their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Guggenheim restated a “sell” rating and issued a $170.00 price target on shares of Tesla in a research note on Thursday, April 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $293.67.

Tesla Company 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.