MONECO Advisors LLC Has $2.34 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

MONECO Advisors LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,174 shares of the electric vehicle producer’s stock after purchasing an additional 58 shares during the period. Tesla accounts for approximately 0.9% of MONECO Advisors LLC’s holdings, making the stock its 22nd biggest holding. MONECO Advisors LLC’s holdings in Tesla were worth $2,343,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TSLA. State Street Corp increased its holdings in Tesla by 4.0% in the fourth quarter. State Street Corp now owns 32,465,720 shares of the electric vehicle producer’s stock valued at $34,309,124,000 after purchasing an additional 1,235,579 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Tesla by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 13,571,554 shares of the electric vehicle producer’s stock worth $14,302,749,000 after buying an additional 401,615 shares during the period. Norges Bank bought a new stake in shares of Tesla in the 4th quarter valued at about $7,918,804,000. Nuveen Asset Management LLC raised its position in shares of Tesla by 7.3% in the 4th quarter. Nuveen Asset Management LLC now owns 5,436,824 shares of the electric vehicle producer’s stock valued at $5,745,526,000 after acquiring an additional 369,560 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Tesla by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,875,251 shares of the electric vehicle producer’s stock worth $4,095,288,000 after acquiring an additional 100,386 shares during the last quarter. Institutional investors own 40.64% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, SVP Andrew D. Baglino sold 3,500 shares of the business’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $722.10, for a total transaction of $2,527,350.00. Following the sale, the senior vice president now owns 20,138 shares in the company, valued at approximately $14,541,649.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $722.10, for a total transaction of $2,527,350.00. Following the sale, the senior vice president now directly owns 20,138 shares of the company’s stock, valued at approximately $14,541,649.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 433 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $718.31, for a total transaction of $311,028.23. Following the sale, the senior vice president now directly owns 20,567 shares in the company, valued at $14,773,481.77. The disclosure for this sale can be found here. Insiders have sold 66,239 shares of company stock worth $53,099,879 over the last quarter. Corporate insiders own 25.10% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA traded down $48.93 on Friday, hitting $876.97. 1,041,913 shares of the company’s stock were exchanged, compared to its average volume of 30,116,138. The stock has a 50-day moving average of $741.57 and a 200-day moving average of $843.26. The stock has a market cap of $915.99 billion, a price-to-earnings ratio of 111.55, a P/E/G ratio of 2.79 and a beta of 2.17. Tesla, Inc. has a 52 week low of $620.57 and a 52 week high of $1,243.49. The company has a current ratio of 1.43, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLAGet Rating) last released its earnings results on Wednesday, July 20th. The electric vehicle producer reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.46. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The firm had revenue of $16.93 billion for the quarter, compared to analysts’ expectations of $16.92 billion. During the same quarter in the previous year, the business posted $1.02 earnings per share. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 10.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Tudor, Pickering, Holt & Co. upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Tuesday, May 17th. Morgan Stanley lowered their price target on Tesla from $1,200.00 to $1,150.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Deutsche Bank Aktiengesellschaft cut their price objective on Tesla from $1,250.00 to $1,125.00 and set a “buy” rating on the stock in a report on Tuesday, June 28th. Canaccord Genuity Group restated a “buy” rating and set a $801.00 target price on shares of Tesla in a report on Wednesday, July 13th. Finally, TheStreet upgraded shares of Tesla from a “c+” rating to a “b-” rating in a report on Wednesday, April 27th. Eight investment analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $859.50.

Tesla Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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