SVB Wealth LLC Boosts Stock Position in Tesla, Inc. $TSLA

SVB Wealth LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.1% during the first quarter, Holdings Channel reports. The firm owned 59,148 shares of the electric vehicle producer’s stock after acquiring an additional 30 shares during the quarter. Tesla makes up 0.6% of SVB Wealth LLC’s portfolio, making the stock its 23rd biggest holding. SVB Wealth LLC’s holdings in Tesla were worth $15,329,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. lifted its holdings in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new stake in Tesla in the 1st quarter worth approximately $3,247,619,000. GAMMA Investing LLC increased its stake in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after acquiring an additional 9,776,607 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 worth $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA opened at $340.01 on Friday. The business has a fifty day moving average of $321.27 and a 200 day moving average of $303.60. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.10 trillion, a P/E ratio of 196.54, a PEG ratio of 11.13 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. Tesla’s revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TSLA shares. Guggenheim reissued a “sell” rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Benchmark reissued a “buy” rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Wedbush reissued an “outperform” rating and set a $500.00 target price on shares of Tesla in a research report on Monday, August 4th. Argus reissued a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Finally, Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $303.31.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the company’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. This represents a 25.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was 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 owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 599,724 shares of company stock valued at $213,126,501 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

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.