Waverly Advisors LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Waverly Advisors LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 55.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 14,291 shares of the electric vehicle producer’s stock after acquiring an additional 5,107 shares during the period. Waverly Advisors LLC’s holdings in Tesla were worth $2,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter worth approximately $7,844,757,000. International Assets Investment Management LLC grew its stake in shares of Tesla by 25,990.7% in the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock worth $1,541,273,000 after buying an additional 6,179,032 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Tesla by 1.7% in the 4th 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Tesla by 2,101.1% in the 4th 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 buying an additional 1,402,443 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock traded down $11.08 during trading on Tuesday, reaching $221.02. The company’s stock had a trading volume of 83,894,531 shares, compared to its average volume of 101,265,609. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $706.08 billion, a P/E ratio of 58.86, a price-to-earnings-growth ratio of 5.69 and a beta of 2.31. The company’s fifty day moving average is $206.82 and its 200-day moving average is $190.66.

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

Insider Activity

In other news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, 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 SEC, which is available at the SEC website. In other news, 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 transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders sold a total of 160,719 shares of company stock worth $32,032,968 over the last 90 days. Corporate insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TSLA. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a research report on Wednesday, April 24th. Canaccord Genuity Group upped their price objective on Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Citigroup lowered their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, UBS Group cut Tesla from a “neutral” rating to a “sell” rating and upped their price objective for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $204.30.

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.