Madrona Financial Services LLC Buys 14,994 Shares of Tesla, Inc. (NASDAQ:TSLA)

Madrona Financial Services LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 478.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,127 shares of the electric vehicle producer’s stock after acquiring an additional 14,994 shares during the quarter. Tesla comprises approximately 1.1% of Madrona Financial Services LLC’s portfolio, making the stock its 24th biggest position. Madrona Financial Services LLC’s holdings in Tesla were worth $3,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Tesla during the fourth quarter valued at $7,844,757,000. International Assets Investment Management LLC boosted its position in shares of Tesla by 25,990.7% during the fourth quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after buying an additional 3,866,361 shares during the last quarter. Morgan Stanley boosted its position in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after purchasing an additional 1,402,443 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TSLA shares. TD Cowen raised their target price on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday. Mizuho dropped their target price on Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Wednesday, April 24th. The Goldman Sachs Group reissued a “neutral” rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $189.47.

Tesla Price Performance

TSLA opened at $246.39 on Thursday. The stock has a market cap of $785.79 billion, a P/E ratio of 62.85, a PEG ratio of 5.74 and a beta of 2.31. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The business has a fifty day moving average of $180.89 and a 200 day moving average of $190.93.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.86 EPS for the current year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by corporate insiders.

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.