SkyOak Wealth LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

SkyOak Wealth LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 10.9% in the first quarter, Holdings Channel reports. The fund owned 7,315 shares of the electric vehicle producer’s stock after purchasing an additional 718 shares during the period. SkyOak Wealth LLC’s holdings in Tesla were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Tesla in the fourth quarter valued at about $14,420,248,000. FMR LLC boosted its holdings in Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC increased its position in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after buying an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. Royal Bank Of Canada dropped their price objective on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird reaffirmed a “neutral” rating and set a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Piper Sandler reiterated an “overweight” rating and issued a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. Finally, Barclays dropped their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $300.19.

Check Out Our Latest Stock Analysis on TSLA

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares in the company, valued at $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock worth $279,420,485 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $313.51 on Friday. The company’s fifty day simple moving average is $322.60 and its 200-day simple moving average is $321.24. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a market cap of $1.01 trillion, a PE ratio of 172.26, a P/E/G ratio of 9.22 and a beta of 2.39.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the company earned $0.45 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company Profile

(Free Report)

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.

See Also

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