DAVENPORT & Co LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

DAVENPORT & Co LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 6.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,917 shares of the electric vehicle producer’s stock after acquiring an additional 2,039 shares during the period. DAVENPORT & Co LLC’s holdings in Tesla were worth $8,428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Tesla during the fourth quarter valued at $3,459,540,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Tesla by 180,125.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock valued at $3,307,602,000 after acquiring an additional 26,836,879 shares during the last quarter. Bank of New York Mellon Corp grew its position in Tesla by 203.9% in the third quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock worth $5,360,358,000 after acquiring an additional 13,558,882 shares in the last quarter. Morgan Stanley increased its stake in Tesla by 26.3% during the fourth quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock worth $3,132,119,000 after acquiring an additional 5,292,464 shares during the last quarter. Finally, State Street Corp raised its position in Tesla by 4.4% during the second quarter. State Street Corp now owns 104,115,390 shares of the electric vehicle producer’s stock valued at $27,254,286,000 after purchasing an additional 4,431,570 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

NASDAQ TSLA opened at $168.38 on Thursday. The firm has a market capitalization of $536.25 billion, a P/E ratio of 39.07, a PEG ratio of 3.13 and a beta of 2.39. The stock has a 50-day simple moving average of $184.80 and a two-hundred day simple moving average of $218.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. Tesla, Inc. has a fifty-two week low of $152.37 and a fifty-two week high of $299.29.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. During the same period last year, the firm earned $1.07 earnings per share. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities analysts forecast that Tesla, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday. Guggenheim boosted their target price on Tesla from $125.00 to $132.00 and gave the company a “sell” rating in a research report on Friday, December 15th. Barclays cut their target price on Tesla from $250.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 25th. Mizuho reissued a “neutral” rating and set a $195.00 price target (down from $270.00) on shares of Tesla in a research note on Monday, March 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $298.00 price objective on shares of Tesla in a research report on Wednesday, March 27th. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $202.00.

Check Out Our Latest Stock Report on TSLA

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,098 shares of company stock worth $38,802,534. Company insiders own 25.10% of the company’s stock.

Tesla Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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