Tesla, Inc. $TSLA Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 379,262 shares of the electric vehicle producer’s stock after acquiring an additional 19,814 shares during the quarter. Wealthfront Advisers LLC’s holdings in Tesla were worth $120,476,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Siren L.L.C. acquired a new position in Tesla in the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC increased its holdings in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after buying an additional 826 shares during the last quarter. Keystone Global Partners LLC acquired a new position in Tesla in the first quarter valued at approximately $594,000. Strs Ohio purchased a new position in Tesla in the first quarter worth approximately $205,495,000. Finally, IFM Investors Pty Ltd increased its stake in Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after acquiring an additional 46,087 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. China Renaissance increased their price target on Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a report on Friday. TD Cowen upped their target price on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. lifted their price target on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Finally, The Goldman Sachs Group increased their price objective on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $381.70.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last three months. 19.90% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of TSLA opened at $433.72 on Friday. The company has a market cap of $1.44 trillion, a P/E ratio of 289.15, a PEG ratio of 15.59 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average price is $398.06 and its 200 day moving average price is $340.74.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter last year, the company posted $0.72 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla Company 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.