Northwest Investment Counselors LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 55.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 569 shares of the electric vehicle producer’s stock after buying an additional 203 shares during the period. Northwest Investment Counselors LLC’s holdings in Tesla were worth $118,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. MidWestOne Financial Group Inc. increased its stake in shares of Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after buying an additional 15 shares during the period. Linscomb & Williams Inc. grew its stake in Tesla by 3.5% in the first quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock valued at $1,329,000 after purchasing an additional 42 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in Tesla by 22.3% in the first quarter. Salem Investment Counselors Inc. now owns 263 shares of the electric vehicle producer’s stock valued at $283,000 after purchasing an additional 48 shares during the last quarter. Manchester Financial Inc. grew its stake in Tesla by 1.2% in the fourth quarter. Manchester Financial Inc. now owns 4,441 shares of the electric vehicle producer’s stock valued at $547,000 after purchasing an additional 51 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. grew its stake in Tesla by 1.8% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 3,176 shares of the electric vehicle producer’s stock valued at $391,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 43.51% of the company’s stock.
Insider Activity at Tesla
In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $152.44, for a total value of $1,600,620.00. Following the completion of the transaction, the senior vice president now directly owns 65,547 shares of the company’s stock, valued at approximately $9,991,984.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $152.44, for a total value of $1,600,620.00. Following the completion of the transaction, the senior vice president now directly owns 65,547 shares of the company’s stock, valued at approximately $9,991,984.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Zachary Kirkhorn sold 3,751 shares of the stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $162.70, for a total value of $610,287.70. Following the completion of the transaction, the chief financial officer now directly owns 195,572 shares of the company’s stock, valued at $31,819,564.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 151,230 shares of company stock valued at $30,055,907. 20.90% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on TSLA shares. Wells Fargo & Company cut their target price on Tesla from $190.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 20th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, March 2nd. Wolfe Research lowered Tesla from an “outperform” rating to a “peer perform” rating in a research note on Monday, March 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $200.00 to $230.00 in a research note on Monday. Finally, Mizuho dropped their price target on Tesla from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, April 20th. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $206.01.
Tesla Trading Down 6.1 %
Shares of NASDAQ:TSLA opened at $241.05 on Tuesday. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $314.67. The firm has a market capitalization of $764.01 billion, a price-to-earnings ratio of 70.90, a price-to-earnings-growth ratio of 3.44 and a beta of 2.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.04. The business’s 50 day moving average price is $199.16 and its 200-day moving average price is $179.69.
Tesla (NASDAQ:TSLA – Get Rating) last announced its earnings results on Wednesday, April 19th. The electric vehicle producer reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. Tesla had a return on equity of 27.29% and a net margin of 13.66%. The firm had revenue of $23.33 billion for the quarter, compared to analyst estimates of $23.36 billion. During the same quarter last year, the firm posted $0.95 EPS. The business’s revenue was up 24.4% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 3.03 earnings per share for the current fiscal year.
Tesla Profile
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.
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