SVB Wealth LLC Purchases 30 Shares of Tesla, Inc. $TSLA

SVB Wealth LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 0.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,148 shares of the electric vehicle producer’s stock after purchasing an additional 30 shares during the quarter. Tesla makes up 0.6% of SVB Wealth LLC’s portfolio, making the stock its 23rd biggest position. SVB Wealth LLC’s holdings in Tesla were worth $15,329,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new position in Tesla in the fourth quarter worth $56,600,000. Means Investment CO. Inc. increased its holdings in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after acquiring an additional 6,323 shares in the last quarter. Focus Financial Network Inc. increased its holdings in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after acquiring an additional 670 shares in the last quarter. Keystone Global Partners LLC bought a new position in shares of Tesla during the first quarter valued at $594,000. Finally, IFM Investors Pty Ltd increased its holdings in shares of Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock valued at $153,436,000 after acquiring an additional 46,087 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 599,724 shares of company stock valued at $213,126,501. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 6.2%

Shares of NASDAQ:TSLA opened at $340.01 on Friday. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 196.54, a PEG ratio of 11.13 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock’s 50-day simple moving average is $321.27 and its two-hundred day simple moving average is $303.60. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TSLA shares. Morgan Stanley restated an “overweight” rating and set a $410.00 price target on shares of Tesla in a report on Friday, June 6th. Piper Sandler restated an “overweight” rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Guggenheim restated a “sell” rating and set a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. HSBC reiterated a “reduce” rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Finally, UBS Group set a $290.00 price objective on Tesla in a report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $303.31.

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.