Clearbridge Investments LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Clearbridge Investments LLC increased its stake in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 18.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,839 shares of the electric vehicle producer’s stock after acquiring an additional 7,831 shares during the period. Clearbridge Investments LLC’s holdings in Tesla were worth $34,236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackDiamond Wealth Management Inc. boosted its position in shares of Tesla by 4.1% during the first quarter. BlackDiamond Wealth Management Inc. now owns 278 shares of the electric vehicle producer’s stock valued at $300,000 after buying an additional 11 shares during the period. Riggs Asset Managment Co. Inc. boosted its position in shares of Tesla by 0.6% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,761 shares of the electric vehicle producer’s stock valued at $1,186,000 after buying an additional 11 shares during the period. DGS Capital Management LLC boosted its position in shares of Tesla by 1.2% during the first quarter. DGS Capital Management LLC now owns 1,020 shares of the electric vehicle producer’s stock valued at $1,099,000 after buying an additional 12 shares during the period. Advisor OS LLC boosted its position in shares of Tesla by 2.4% during the second quarter. Advisor OS LLC now owns 510 shares of the electric vehicle producer’s stock valued at $344,000 after buying an additional 12 shares during the period. Finally, Alera Investment Advisors LLC boosted its position in shares of Tesla by 1.4% during the second quarter. Alera Investment Advisors LLC now owns 852 shares of the electric vehicle producer’s stock valued at $574,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 43.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Loop Capital boosted their target price on Tesla to $33.33 in a research report on Monday, August 22nd. Bank of America lifted their price target on shares of Tesla from $315.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, October 20th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Tesla from $390.00 to $355.00 and set a “buy” rating for the company in a research note on Thursday, October 20th. Cowen decreased their price target on shares of Tesla from $244.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 20th. Finally, Wells Fargo & Company decreased their price target on shares of Tesla from $280.00 to $230.00 and set an “equal weight” rating for the company in a research note on Friday, October 14th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $278.43.

Insider Activity

In other news, CEO Elon Musk sold 4,400,000 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $191.63, for a total value of $843,172,000.00. Following the transaction, the chief executive officer now directly owns 445,617,432 shares of the company’s stock, valued at $85,393,668,494.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Elon Musk sold 4,400,000 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $191.63, for a total value of $843,172,000.00. Following the transaction, the chief executive officer now directly owns 445,617,432 shares of the company’s stock, valued at $85,393,668,494.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 26,250 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $278.93, for a total value of $7,321,912.50. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $1,506,222. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,119,001 shares of company stock valued at $2,874,560,178. Company insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $183.20 on Friday. The company has a market cap of $578.50 billion, a PE ratio of 56.60, a PEG ratio of 1.62 and a beta of 1.97. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a 12-month low of $166.18 and a 12-month high of $402.67. The business’s fifty day simple moving average is $228.89 and its 200-day simple moving average is $248.87.

Tesla (NASDAQ:TSLAGet Rating) last issued its earnings results on Wednesday, October 19th. The electric vehicle producer reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.14. The company had revenue of $21.45 billion during the quarter, compared to analyst estimates of $21.96 billion. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The firm’s quarterly revenue was up 55.9% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. Analysts expect that Tesla, Inc. will post 3.61 earnings per share for the current fiscal year.

Tesla Profile

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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.

Further Reading

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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