Schwab Charles Investment Management Inc. boosted its position in Tesla Inc. (NASDAQ:TSLA) by 5.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,342 shares of the electric vehicle producer’s stock after buying an additional 10,163 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.12% of Tesla worth $54,921,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crestwood Advisors Group LLC purchased a new position in shares of Tesla during the first quarter worth $101,000. Independent Advisor Alliance purchased a new position in shares of Tesla during the fourth quarter worth $102,000. Parallel Advisors LLC purchased a new position in shares of Tesla during the fourth quarter worth $104,000. SRS Capital Advisors Inc. increased its position in shares of Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 364 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of Tesla during the first quarter worth $122,000. Institutional investors and hedge funds own 63.77% of the company’s stock.
Shares of Tesla Inc. (NASDAQ TSLA) traded down 0.43% during midday trading on Monday, hitting $369.80. 6,398,781 shares of the stock were exchanged. The firm’s market cap is $60.74 billion. The firm has a 50 day moving average of $331.64 and a 200 day moving average of $271.08. Tesla Inc. has a 12-month low of $178.19 and a 12-month high of $384.25.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by $1.30. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.56 billion. Tesla had a negative net margin of 8.46% and a negative return on equity of 17.13%. Equities analysts forecast that Tesla Inc. will post ($5.80) EPS for the current fiscal year.
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A number of research analysts have weighed in on the stock. Berenberg Bank upgraded shares of Tesla from a “hold” rating to a “buy” rating and upped their price objective for the stock from $193.00 to $464.00 in a research report on Tuesday, June 13th. Deutsche Bank AG reiterated a “hold” rating and issued a $215.00 price objective on shares of Tesla in a research report on Friday, February 24th. Guggenheim upped their price objective on shares of Tesla from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Friday, May 5th. Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $273.28 price objective for the company in a research report on Wednesday, May 24th. Finally, Pacific Crest reiterated an “equal weight” rating on shares of Tesla in a research report on Tuesday, June 6th. Eight analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. Tesla currently has an average rating of “Hold” and a consensus target price of $288.17.
In related news, Director Robyn M. Denholm sold 20,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $311.76, for a total value of $6,235,200.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $6,235,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimbal Musk sold 2,500 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $286.28, for a total transaction of $715,700.00. Following the completion of the sale, the director now directly owns 170,546 shares in the company, valued at $48,823,908.88. The disclosure for this sale can be found here. Insiders sold 242,791 shares of company stock worth $74,745,344 over the last ninety days. 23.10% of the stock is currently owned by corporate insiders.
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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