HB Wealth Management LLC Boosts Stake in Tesla, Inc. $TSLA

HB Wealth Management LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 7.4% during the first quarter, Holdings Channel.com reports. The fund owned 117,245 shares of the electric vehicle producer’s stock after buying an additional 8,063 shares during the quarter. HB Wealth Management LLC’s holdings in Tesla were worth $43,586,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Tesla by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after purchasing an additional 6,538,720 shares during the last quarter. State Street Corp lifted its position in Tesla by 0.9% during the fourth 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 grew its stake in Tesla by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock worth $29,426,070,000 after buying an additional 375,946 shares in the last quarter. Capital World Investors grew its stake in Tesla by 5.8% in the 3rd quarter. Capital World Investors now owns 44,035,949 shares of the electric vehicle producer’s stock worth $19,583,547,000 after buying an additional 2,403,019 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Tesla in the 4th quarter worth $17,128,100,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $393.45 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.62. The firm has a 50-day moving average of $407.39 and a 200 day moving average of $411.79. Tesla, Inc. has a 1 year low of $288.77 and a 1 year high of $498.83. The stock has a market cap of $1.48 trillion, a P/E ratio of 360.96, a price-to-earnings-growth ratio of 15.61 and a beta of 1.80.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company had revenue of $22.39 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the prior year, the firm posted $0.27 EPS. Tesla’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, sell-side analysts expect that Tesla, Inc. will post 1.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $600.00 price objective on shares of Tesla in a report on Tuesday, April 21st. Zacks Research raised Tesla from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. BNP Paribas Exane downgraded Tesla from a “hold” rating to an “underperform” rating in a research report on Friday, June 5th. William Blair reaffirmed a “market perform” rating on shares of Tesla in a research note on Thursday. Finally, HSBC reiterated a “hold” rating on shares of Tesla in a report on Monday, June 15th. Twenty-one analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $403.92.

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Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction on 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 directly owned 18,106 shares of the company’s stock, valued at approximately $8,147,700. This trade represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 company’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 sale, the director owned 48,399 shares in the company, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 32,015 shares of company stock worth $12,383,640. 19.90% of the stock is owned by insiders.

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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