Simplicity Wealth LLC Has $7.87 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Simplicity Wealth LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 66.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,349 shares of the electric vehicle producer’s stock after acquiring an additional 12,131 shares during the quarter. Simplicity Wealth LLC’s holdings in Tesla were worth $7,865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of 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 during the period. Geode Capital Management LLC boosted its holdings in shares of 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 valued at $24,566,217,000 after acquiring an additional 1,655,203 shares in the last quarter. Norges Bank bought a new position in shares of Tesla in the 4th quarter worth about $14,420,248,000. FMR LLC increased its position in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Tesla by 21.6% during 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 purchasing an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business’s 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 completion of the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’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 approximately $6,737,500. This trade represents 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 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $308.58 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market cap of $993.92 billion, a P/E ratio of 151.27, a P/E/G ratio of 5.86 and a beta of 2.47. The firm’s fifty day moving average is $292.68 and its two-hundred day moving average is $333.20. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued 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 return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the business earned $0.45 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on TSLA shares. The Goldman Sachs Group lowered their price target on shares of Tesla from $295.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Cantor Fitzgerald cut their target price on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada cut their price target on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $293.67.

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.