Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Myecfo LLC

Myecfo LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 64.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,706 shares of the electric vehicle producer’s stock after acquiring an additional 1,061 shares during the period. Myecfo LLC’s holdings in Tesla were worth $476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares during the period. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth $7,844,757,000. Morgan Stanley grew 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 worth $7,546,823,000 after acquiring an additional 2,177,397 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Tesla by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after buying an additional 458,804 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Tesla by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 6,702,634 shares of the electric vehicle producer’s stock valued at $1,677,133,000 after buying an additional 19,887 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related 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 transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 20.90% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $21.40 during trading on Tuesday, reaching $231.26. 202,700,192 shares of the stock traded hands, compared to its average volume of 96,511,578. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The company has a 50-day moving average of $179.16 and a 200-day moving average of $191.09. The stock has a market capitalization of $737.53 billion, a P/E ratio of 59.00, a price-to-earnings-growth ratio of 4.91 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Analysts forecast that Tesla, Inc. will post 1.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research reports. Jefferies Financial Group reduced their target price on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, April 10th. Evercore ISI lowered their price objective on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research report on Monday, April 29th. UBS Group lowered their price objective on Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. JPMorgan Chase & Co. decreased their target price on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Finally, Bank of America upgraded Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research report on Wednesday, April 24th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $187.30.

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. 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.