Tesla, Inc. $TSLA Position Boosted by Simplicity Wealth LLC

Simplicity Wealth LLC raised its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 10.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,730 shares of the electric vehicle producer’s stock after buying an additional 2,619 shares during the quarter. Simplicity Wealth LLC’s holdings in Tesla were worth $10,680,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Tesla by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock valued at $116,443,762,000 after purchasing an additional 6,538,720 shares during the last quarter. State Street Corp raised its stake in Tesla by 0.9% during the 4th quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer’s stock valued at $51,647,164,000 after purchasing an additional 1,080,085 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Tesla by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock valued at $29,426,070,000 after buying an additional 375,946 shares during the period. Norges Bank bought a new stake in shares of Tesla in the 4th quarter worth approximately $17,128,100,000. Finally, Corient Private Wealth LLC boosted its stake in Tesla by 3,205.5% during the fourth quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock worth $9,650,811,000 after buying an additional 20,810,386 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on TSLA shares. Citizens Jmp assumed coverage on shares of Tesla in a research note on Thursday. They set a “market perform” rating for the company. Canaccord Genuity Group upped their price target on shares of Tesla from $420.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Sanford C. Bernstein upgraded Tesla from an “underperform” rating to an “outperform” rating in a research report on Friday, June 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Tesla in a research note on Tuesday, June 30th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Tesla in a research report on Monday, June 1st. Twenty-one analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $406.87.

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Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the sale, the chief financial officer owned 22,039 shares in the company, valued at approximately $8,864,085.80. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the transaction, the director owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This represents a 35.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,015 shares of company stock worth $12,383,640 over the last quarter. Company insiders own 19.90% of the company’s stock.

Tesla Stock Up 0.3%

NASDAQ TSLA traded up $1.21 on Friday, reaching $407.76. The company had a trading volume of 33,333,565 shares, compared to its average volume of 42,504,768. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. The firm has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 374.09, a price-to-earnings-growth ratio of 14.89 and a beta of 1.80. Tesla, Inc. has a 1-year low of $297.82 and a 1-year high of $498.83. The company’s fifty day moving average is $410.46 and its 200-day moving average is $409.23.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same quarter last year, the firm earned $0.27 EPS. Tesla’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 1.3 earnings per share for the current fiscal year.

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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