Sovereign Financial Group Inc. Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sovereign Financial Group Inc. boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,076 shares of the electric vehicle producer’s stock after purchasing an additional 102 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Tesla were worth $365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.7% during 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 acquiring an additional 3,866,361 shares in the last quarter. Norges Bank bought a new stake in shares of Tesla in the 4th quarter worth about $7,844,757,000. Morgan Stanley raised its position in shares of Tesla by 7.8% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 acquiring an additional 458,804 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Tesla by 0.3% during the third quarter. American Century Companies Inc. now owns 6,702,634 shares of the electric vehicle producer’s stock worth $1,677,133,000 after acquiring an additional 19,887 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares in the company, valued at $5,502,726. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,855 shares of company stock worth $19,285,643. 25.10% of the stock is owned by company insiders.

Tesla Price Performance

Shares of TSLA opened at $197.42 on Friday. The firm has a market capitalization of $629.61 billion, a PE ratio of 50.36, a price-to-earnings-growth ratio of 4.87 and a beta of 2.32. 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’s fifty day moving average price is $175.83 and its 200-day moving average price is $192.28. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share 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 business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. On average, equities research analysts predict that Tesla, Inc. will post 1.87 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on TSLA. Wedbush reiterated an “outperform” rating and issued a $275.00 target price on shares of Tesla in a report on Friday, June 14th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Wednesday, April 24th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Morgan Stanley reissued an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, June 20th. Finally, Canaccord Genuity Group decreased their price target on Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a research note 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 company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.