Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Newton One Investments LLC

Newton One Investments LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 250.0% in the first quarter, HoldingsChannel reports. The fund owned 105 shares of the electric vehicle producer’s stock after buying an additional 75 shares during the period. Newton One Investments LLC’s holdings in Tesla were worth $27,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Tesla by 1.5% during the 4th 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 during the period. Geode Capital Management LLC lifted its position in Tesla by 2.8% in 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 bought a new stake in shares of Tesla in the 4th quarter worth $14,420,248,000. FMR LLC boosted its stake in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after buying an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Tesla by 21.6% during the fourth 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 period. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Baird R W lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Mizuho raised their price objective on Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Cfra Research lowered Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group decreased their price target on Tesla from $295.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, June 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $293.67.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total transaction of $32,096,336.20. Following the transaction, the director now owns 85,000 shares in the company, valued at $24,274,300. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 in the last three months. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Down 3.8%

TSLA stock opened at $316.73 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.02 trillion, a P/E ratio of 174.03, a P/E/G ratio of 12.36 and a beta of 2.47. Tesla, Inc. has a 1-year low of $179.66 and a 1-year high of $488.54. The business’s 50 day moving average is $302.42 and its 200-day moving average is $332.66.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates 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 prior year, the firm posted $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.