Sand Hill Global Advisors LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 10.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 22,689 shares of the electric vehicle producer’s stock after purchasing an additional 2,172 shares during the period. Sand Hill Global Advisors LLC’s holdings in Tesla were worth $4,707,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tanaka Capital Management Inc. increased its holdings in Tesla by 15.5% during the 1st quarter. Tanaka Capital Management Inc. now owns 8,336 shares of the electric vehicle producer’s stock worth $1,729,000 after purchasing an additional 1,120 shares in the last quarter. Trek Financial LLC boosted its stake in shares of Tesla by 1.5% in the 1st quarter. Trek Financial LLC now owns 4,449 shares of the electric vehicle producer’s stock worth $923,000 after buying an additional 64 shares during the last quarter. United Bank purchased a new position in shares of Tesla in the 1st quarter worth approximately $209,000. Woodard & Co. Asset Management Group Inc. ADV purchased a new position in shares of Tesla in the 1st quarter worth approximately $282,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Tesla by 18.2% in the 1st quarter. Renaissance Technologies LLC now owns 4,025,051 shares of the electric vehicle producer’s stock worth $835,026,000 after buying an additional 620,034 shares during the last quarter. 41.87% of the stock is owned by institutional investors.
Tesla Stock Down 1.2 %
TSLA opened at $248.50 on Friday. The stock has a market cap of $788.74 billion, a PE ratio of 70.40, a P/E/G ratio of 3.92 and a beta of 2.09. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $313.80. The business’s fifty day simple moving average is $256.44 and its 200 day simple moving average is $218.09.
Analyst Upgrades and Downgrades
TSLA has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Tesla from $240.00 to $254.00 and gave the stock a “hold” rating in a research note on Thursday, July 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $250.00 price objective on shares of Tesla in a research note on Friday, July 21st. UBS Group downgraded Tesla from a “buy” rating to a “neutral” rating and upped their price objective for the company from $220.00 to $270.00 in a research note on Monday, July 24th. StockNews.com assumed coverage on Tesla in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Robert W. Baird upped their price objective on Tesla from $252.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, July 17th. Six analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $233.77.
Get Our Latest Stock Report on Tesla
Insider Activity at Tesla
In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the completion of the sale, the chief financial officer now directly owns 197,540 shares in the company, valued at $55,054,398. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Tesla news, CAO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $278.36, for a total transaction of $1,113,440.00. Following the completion of the sale, the chief accounting officer now directly owns 104,504 shares in the company, valued at $29,089,733.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the sale, the chief financial officer now owns 197,540 shares of the company’s stock, valued at $55,054,398. The disclosure for this sale can be found here. Insiders have sold a total of 58,315 shares of company stock valued at $15,034,135 over the last 90 days. 25.10% of the stock is owned by 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. It 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, retail merchandise, and vehicle insurance services.
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