Gamco Investors INC. ET AL Boosts Holdings in Tesla, Inc. $TSLA

Gamco Investors INC. ET AL grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,099 shares of the electric vehicle producer’s stock after acquiring an additional 2,368 shares during the period. Gamco Investors INC. ET AL’s holdings in Tesla were worth $18,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Courage Capital Management LLC increased its holdings in Tesla by 73.5% in the 1st quarter. Courage Capital Management LLC now owns 5,380 shares of the electric vehicle producer’s stock worth $2,000,000 after acquiring an additional 2,280 shares in the last quarter. SC US Ttgp LTD. purchased a new position in Tesla during the first quarter valued at approximately $20,598,000. Pennington Partners & CO. LLC lifted its holdings in Tesla by 185.3% during the first quarter. Pennington Partners & CO. LLC now owns 2,713 shares of the electric vehicle producer’s stock valued at $1,008,000 after purchasing an additional 1,762 shares in the last quarter. GC Wealth Management RIA LLC boosted its position in shares of Tesla by 3.2% in the first quarter. GC Wealth Management RIA LLC now owns 110,410 shares of the electric vehicle producer’s stock worth $41,045,000 after purchasing an additional 3,410 shares during the period. Finally, Klingman & Associates LLC boosted its position in shares of Tesla by 2.4% in the first quarter. Klingman & Associates LLC now owns 8,078 shares of the electric vehicle producer’s stock worth $3,003,000 after purchasing an additional 188 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. Piper Sandler decreased their price objective on shares of Tesla from $500.00 to $450.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial set a $370.00 target price on shares of Tesla and gave the stock a “hold” rating in a report on Thursday. Mizuho set a $450.00 price target on Tesla and gave the stock an “outperform” rating in a research note on Thursday. Wedbush restated an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a research report on Tuesday, April 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 price objective (down from $510.00) on shares of Tesla in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $404.95.

Check Out Our Latest Research Report on Tesla

Tesla Price Performance

Shares of Tesla stock opened at $313.03 on Friday. The firm has a market cap of $1.18 trillion, a PE ratio of 289.85, a PEG ratio of 10.51 and a beta of 1.80. The stock has a 50 day moving average of $400.74 and a 200 day moving average of $402.53. The company has a current ratio of 1.94, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 12 month low of $297.82 and a 12 month high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The electric vehicle producer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.17). The firm had revenue of $28.24 billion during the quarter, compared to the consensus estimate of $26.42 billion. Tesla had a return on equity of 3.82% and a net margin of 3.67%.The business’s revenue was up 25.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. On average, research analysts expect that Tesla, Inc. will post 1.33 EPS for the current fiscal year.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief financial officer owned 18,106 shares of the company’s stock, valued at approximately $8,147,700. This trade represents a 14.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Tesla stock in a transaction dated Thursday, April 30th. The stock was 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,015 shares of company stock valued at $12,383,640 over the last three months. Corporate insiders own 19.90% of the company’s stock.

About Tesla

(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.

See Also

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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