Planning Directions Inc. lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 9.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 381 shares of the electric vehicle producer’s stock after selling 39 shares during the quarter. Planning Directions Inc.’s holdings in Tesla were worth $254,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in TSLA. Norges Bank purchased a new position in shares of Tesla during the 4th quarter valued at about $5,497,219,000. Northern Trust Corp increased its stake in Tesla by 64.1% in the 4th quarter. Northern Trust Corp now owns 8,094,441 shares of the electric vehicle producer’s stock worth $5,712,005,000 after purchasing an additional 3,160,909 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Tesla by 61.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,384,831 shares of the electric vehicle producer’s stock worth $2,388,575,000 after purchasing an additional 1,288,796 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Tesla by 57.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,472,998 shares of the electric vehicle producer’s stock worth $2,450,790,000 after purchasing an additional 1,263,228 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Tesla by 1,377.5% in the 4th quarter. Principal Financial Group Inc. now owns 1,085,853 shares of the electric vehicle producer’s stock worth $766,254,000 after buying an additional 1,012,360 shares during the last quarter. 41.39% of the stock is currently owned by hedge funds and other institutional investors.
Tesla stock traded down $19.05 during midday trading on Tuesday, reaching $665.85. The company’s stock had a trading volume of 435,144 shares, compared to its average volume of 34,665,016. The business has a 50-day moving average price of $687.41 and a 200-day moving average price of $659.28. The company has a current ratio of 1.63, a quick ratio of 1.32 and a debt-to-equity ratio of 0.63. The stock has a market cap of $641.43 billion, a PE ratio of 1,375.30, a price-to-earnings-growth ratio of 8.81 and a beta of 2.18. Tesla, Inc. has a 52 week low of $139.60 and a 52 week high of $900.40.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Sunday, April 25th. The electric vehicle producer reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.14. Tesla had a return on equity of 4.93% and a net margin of 1.97%. The business had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $9.89 billion. During the same quarter in the prior year, the company posted $0.23 earnings per share. Tesla’s revenue was up 73.6% compared to the same quarter last year. As a group, research analysts predict that Tesla, Inc. will post 1.02 EPS for the current fiscal year.
Several equities research analysts have commented on TSLA shares. Credit Suisse Group reissued a “neutral” rating and issued a $800.00 target price on shares of Tesla in a report on Monday. Exane BNP Paribas cut Tesla from a “neutral” rating to an “underperform” rating and set a $340.00 price target for the company. in a research note on Tuesday, January 5th. FIX upgraded Tesla to a “buy” rating in a research report on Tuesday, March 9th. Royal Bank of Canada upgraded Tesla from an “underperform” rating to a “sector perform” rating in a research report on Thursday, January 7th. Finally, Morgan Stanley upped their price objective on Tesla to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, April 28th. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Tesla presently has an average rating of “Hold” and an average price target of $421.93.
In related news, Director Kimbal Musk sold 30,000 shares of the business’s stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $852.12, for a total value of $25,563,600.00. Following the sale, the director now directly owns 621,769 shares in the company, valued at $529,821,800.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Vaibhav Taneja sold 1,844 shares of the stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $595.08, for a total value of $1,097,327.52. The disclosure for this sale can be found here. Insiders have sold a total of 145,153 shares of company stock worth $109,617,129 over the last quarter. Corporate insiders own 23.00% of the company’s stock.
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.
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