Bridgewater Advisors Inc. Buys 1,512 Shares of Tesla, Inc. $TSLA

Bridgewater Advisors Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,794 shares of the electric vehicle producer’s stock after purchasing an additional 1,512 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Tesla were worth $4,431,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Brighton Jones LLC boosted its position in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after buying an additional 931 shares in the last quarter. Bison Wealth LLC boosted its position in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after buying an additional 3,558 shares in the last quarter. World Investment Advisors lifted its position in shares of Tesla by 8.1% during the first quarter. World Investment Advisors now owns 26,536 shares of the electric vehicle producer’s stock worth $6,877,000 after purchasing an additional 1,998 shares in the last quarter. Finally, Whelan Financial lifted its position in shares of Tesla by 37.6% during the first quarter. Whelan Financial now owns 2,307 shares of the electric vehicle producer’s stock worth $598,000 after purchasing an additional 630 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a research report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a research note on Thursday. Wedbush reissued an “outperform” rating and set a $600.00 price target on shares of Tesla in a research note on Monday, October 20th. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Finally, Canaccord Genuity Group dropped their price target on shares of Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $390.27.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $456.56 on Monday. The stock has a market cap of $1.52 trillion, a P/E ratio of 304.37, a P/E/G ratio of 16.84 and a beta of 2.08. The company has a fifty day moving average price of $410.52 and a two-hundred day moving average price of $348.87. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period last year, the firm earned $0.72 earnings per share. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts predict 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.