Ascent Group LLC Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Ascent Group LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 12.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 9,901 shares of the electric vehicle producer’s stock after buying an additional 1,058 shares during the quarter. Ascent Group LLC’s holdings in Tesla were worth $1,740,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares during the last quarter. Norges Bank purchased a new stake in Tesla during the fourth quarter valued at about $7,844,757,000. Charles Schwab Investment Management Inc. increased its stake in shares of Tesla by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after purchasing an additional 458,804 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of Tesla by 25,990.7% during the 4th 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 in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,719 shares of company stock worth $32,032,968. 25.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Tesla in a report on Wednesday, July 24th. Royal Bank of Canada dropped their price objective on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 target price on shares of Tesla in a report on Monday, July 1st. Piper Sandler increased their price target on shares of Tesla from $205.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $204.30.

Tesla Trading Up 5.6 %

TSLA traded up $12.30 on Monday, hitting $232.10. 128,904,576 shares of the company were exchanged, compared to its average volume of 101,382,844. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a fifty day simple moving average of $205.68 and a two-hundred day simple moving average of $190.62. The stock has a market capitalization of $741.48 billion, a PE ratio of 59.09, a price-to-earnings-growth ratio of 5.69 and a beta of 2.31. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 1.79 earnings per share for the current year.

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.