Adero Partners LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Adero Partners LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 22.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,813 shares of the electric vehicle producer’s stock after purchasing an additional 3,472 shares during the period. Adero Partners LLC’s holdings in Tesla were worth $4,876,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TSLA. Norges Bank purchased a new position in shares of Tesla during the fourth quarter valued at about $14,420,248,000. FMR LLC lifted its holdings in shares of 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 during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $325.31 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a one year low of $177.00 and a one year high of $488.54. The company’s 50-day simple moving average is $299.39 and its 200-day simple moving average is $332.88. The stock has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last issued its earnings results 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the prior year, the business earned $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on TSLA shares. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a “buy” rating in a report on Thursday, April 24th. Mizuho raised their price objective on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. UBS Group decreased their price objective on shares of Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an “underperform” rating in a research note on Wednesday, April 16th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $293.67.

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. 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.