McIlrath & Eck LLC Has $1.70 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

McIlrath & Eck LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 23.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,207 shares of the electric vehicle producer’s stock after buying an additional 806 shares during the quarter. McIlrath & Eck LLC’s holdings in Tesla were worth $1,699,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TSLA. Vanguard Group Inc. boosted its stake in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer’s stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC lifted its position in Tesla by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer’s stock worth $24,566,217,000 after buying an additional 1,655,203 shares in the last quarter. Norges Bank bought a new stake in Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC increased its position in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Tesla by 21.6% in 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 last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

TSLA stock opened at $343.82 on Wednesday. The stock has a 50-day moving average price of $271.29 and a two-hundred day moving average price of $331.39. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The stock has a market cap of $1.11 trillion, a PE ratio of 168.54, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the previous year, the business posted $0.45 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Truist Financial set a $280.00 price objective on Tesla in a report on Tuesday, April 22nd. BNP Paribas set a $137.00 price target on Tesla and gave the company an “underperform” rating in a report on Wednesday, April 16th. Piper Sandler set a $400.00 price objective on Tesla in a report on Tuesday, May 6th. Wedbush restated an “outperform” rating and set a $350.00 target price on shares of Tesla in a research report on Thursday, May 1st. Finally, Wells Fargo & Company lowered their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $289.43.

Insider Transactions at Tesla

In other Tesla news, Director Joseph Gebbia purchased 4,000 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were purchased at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the transaction, the director now directly owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This represents a 3,603.60% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the transaction, the chief financial officer now owns 23,084 shares of the company’s stock, valued at approximately $6,833,325.68. This represents a 20.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 415,623 shares of company stock valued at $116,650,831 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

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.