Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by SOL Capital Management CO

SOL Capital Management CO increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,327 shares of the electric vehicle producer’s stock after acquiring an additional 491 shares during the period. SOL Capital Management CO’s holdings in Tesla were worth $2,936,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock valued at $98,211,134,000 after buying an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank purchased a new stake in shares of Tesla during the fourth quarter valued at $14,420,248,000. FMR LLC boosted its position in shares of 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 purchasing an additional 9,920,325 shares during the period. Finally, 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 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.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSLA. Piper Sandler reaffirmed an “overweight” rating and set a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Raymond James Financial downgraded shares of Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 23rd. BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Finally, Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $298.37.

Insider Activity

In related news, CFO Vaibhav Taneja sold 1,000 shares of the company’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 directly owns 1,950 shares in the company, valued at approximately $682,500. This represents a 33.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The shares were 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 now 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 disclosure for this sale can be found here. Over the last three months, insiders sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by company insiders.

Tesla Stock Down 0.5%

TSLA stock opened at $325.78 on Friday. The stock has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 179.00, a price-to-earnings-growth ratio of 12.25 and a beta of 2.47. The company has a 50-day moving average of $313.28 and a two-hundred day moving average of $331.01. 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 current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA) last announced its earnings results 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 business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the previous year, the company earned $0.45 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current 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.