Clearbridge Investments LLC Buys 101,114 Shares of Tesla, Inc. (NASDAQ:TSLA)

Clearbridge Investments LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 9.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,207,779 shares of the electric vehicle producer’s stock after purchasing an additional 101,114 shares during the quarter. Clearbridge Investments LLC’s holdings in Tesla were worth $238,995,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Clean Energy Transition LLP increased its stake in shares of Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Tesla by 2,101.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings 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 in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

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 value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on 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 directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,661 shares of company stock worth $16,663,291. Insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Thursday, September 26th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Wednesday, July 24th. Canaccord Genuity Group reissued a “buy” rating and set a $254.00 price objective on shares of Tesla in a report on Friday, September 13th. Wolfe Research started coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Piper Sandler lifted their price target on shares of Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $209.90.

Tesla Stock Down 1.4 %

TSLA stock opened at $258.02 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock has a market capitalization of $824.28 billion, a P/E ratio of 65.82, a P/E/G ratio of 7.08 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The business has a 50-day moving average of $222.33 and a 200-day moving average of $200.24.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.