Atria Investments Inc Buys 7,262 Shares of Tesla, Inc. (NASDAQ:TSLA)

Atria Investments Inc boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.5% during the 1st quarter, Holdings Channel reports. The fund owned 119,357 shares of the electric vehicle producer’s stock after buying an additional 7,262 shares during the period. Atria Investments Inc’s holdings in Tesla were worth $30,933,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Geode Capital Management LLC raised its position in Tesla by 2.8% during 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 buying an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth about $14,420,248,000. FMR LLC increased its stake in Tesla by 40.1% in 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 last quarter. Northern Trust Corp increased its stake in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tesla by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer’s stock valued at $9,908,828,000 after acquiring an additional 158,697 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 over the last quarter. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on TSLA. Cfra Research downgraded Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. William Blair cut Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, July 7th. Argus reiterated a “hold” rating on shares of Tesla in a report on Monday, June 9th. JPMorgan Chase & Co. cut their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Cantor Fitzgerald set a $355.00 price target on Tesla and gave the company an “overweight” rating in a research report on Monday. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen 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 $299.91.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $30.03 on Thursday, reaching $302.53. The company’s stock had a trading volume of 65,680,401 shares, compared to its average volume of 107,491,375. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The company has a 50-day simple moving average of $326.13 and a 200 day simple moving average of $315.92. The company has a market cap of $974.45 billion, a P/E ratio of 166.23, a PEG ratio of 12.61 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.