U S Global Investors Inc. Purchases 1,260 Shares of Tesla, Inc. $TSLA

U S Global Investors Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 21.6% during the first quarter, HoldingsChannel reports. The fund owned 7,100 shares of the electric vehicle producer’s stock after buying an additional 1,260 shares during the quarter. U S Global Investors Inc.’s holdings in Tesla were worth $2,639,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in TSLA. Vanguard Group Inc. boosted its holdings in Tesla by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 258,925,024 shares of the electric vehicle producer’s stock worth $116,443,762,000 after buying an additional 6,538,720 shares during the period. State Street Corp raised its holdings in Tesla by 0.9% during the 4th quarter. State Street Corp now owns 114,842,934 shares of the electric vehicle producer’s stock valued at $51,647,164,000 after acquiring an additional 1,080,085 shares during the period. Geode Capital Management LLC lifted its position in shares of Tesla by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 65,700,975 shares of the electric vehicle producer’s stock worth $29,426,070,000 after acquiring an additional 375,946 shares in the last quarter. Norges Bank bought a new position in shares of Tesla in the fourth quarter worth $17,128,100,000. Finally, Corient Private Wealth LLC grew its position in shares of Tesla by 3,205.5% in the fourth quarter. Corient Private Wealth LLC now owns 21,459,599 shares of the electric vehicle producer’s stock valued at $9,650,811,000 after purchasing an additional 20,810,386 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Tesla in a research note on Tuesday, June 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, April 23rd. TD Cowen reiterated a “buy” rating on shares of Tesla in a research report on Monday, June 29th. The Goldman Sachs Group assumed coverage on shares of Tesla in a report on Friday, June 5th. They issued a “buy” rating on the stock. Finally, Morgan Stanley restated an “equal weight” rating and issued a $415.00 price objective on shares of Tesla in a research report on Thursday, July 2nd. Twenty-one analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $406.87.

Check Out Our Latest Research Report on Tesla

Tesla Price Performance

Tesla stock traded up $1.21 during midday trading on Friday, hitting $407.76. 33,333,565 shares of the company’s stock were exchanged, compared to its average volume of 42,504,768. The company has a market cap of $1.53 trillion, a P/E ratio of 374.09, a PEG ratio of 14.89 and a beta of 1.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. The stock has a 50-day moving average price of $410.46 and a two-hundred day moving average price of $409.23. Tesla, Inc. has a 52-week low of $297.82 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $22.39 billion for the quarter, compared to analysts’ expectations of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The company’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. On average, equities research analysts forecast that Tesla, Inc. will post 1.3 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the sale, the chief financial officer directly owned 18,106 shares of the company’s stock, valued at $8,147,700. This trade represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 32,015 shares of company stock worth $12,383,640. 19.90% of the stock is owned by company insiders.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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