Means Investment CO. Inc. Purchases 1,485 Shares of Tesla, Inc. (NASDAQ:TSLA)


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Means Investment CO. Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 304.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,973 shares of the electric vehicle producer’s stock after buying an additional 1,485 shares during the quarter. Means Investment CO. Inc.’s holdings in Tesla were worth $1,318,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Occidental Asset Management LLC boosted its position in Tesla by 96.7% during the 4th quarter. Occidental Asset Management LLC now owns 1,593 shares of the electric vehicle producer’s stock worth $1,124,000 after buying an additional 783 shares during the period. Altium Wealth Management LLC boosted its position in Tesla by 29.5% during the 4th quarter. Altium Wealth Management LLC now owns 3,498 shares of the electric vehicle producer’s stock worth $2,468,000 after buying an additional 796 shares during the period. 180 Wealth Advisors LLC boosted its stake in shares of Tesla by 190.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 4,935 shares of the electric vehicle producer’s stock valued at $4,168,000 after purchasing an additional 3,235 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Tesla by 23.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 8,459 shares of the electric vehicle producer’s stock worth $3,629,000 after buying an additional 1,607 shares during the period. Finally, Riggs Asset Managment Co. Inc. bought a new position in Tesla during the fourth quarter worth $1,376,000. 41.39% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Jerome M. Guillen sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $711.30, for a total transaction of $426,780.00. Following the transaction, the insider now directly owns 50,798 shares of the company’s stock, valued at $36,132,617.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Vaibhav Taneja sold 1,844 shares of the business’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $595.08, for a total value of $1,097,327.52. The disclosure for this sale can be found here. Insiders sold 82,653 shares of company stock valued at $65,044,749 in the last quarter. Corporate insiders own 23.00% of the company’s stock.

A number of brokerages have weighed in on TSLA. New Street Research upgraded Tesla from a “neutral” rating to a “buy” rating in a report on Monday, March 15th. JMP Securities cut Tesla from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 28th. They noted that the move was a valuation call. Morgan Stanley reissued a “buy” rating on shares of Tesla in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on Tesla from $135.00 to $155.00 and gave the stock an “underweight” rating in a report on Monday. Finally, Wedbush raised shares of Tesla from a “neutral” rating to an “outperform” rating in a research report on Sunday. Twelve analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Tesla has an average rating of “Hold” and an average price target of $368.54.

NASDAQ:TSLA traded up $13.37 during mid-day trading on Thursday, reaching $684.34. The stock had a trading volume of 462,442 shares, compared to its average volume of 35,435,129. The firm has a 50 day moving average price of $677.13 and a two-hundred day moving average price of $621.74. The stock has a market capitalization of $656.87 billion, a P/E ratio of 1,374.18, a P/E/G ratio of 8.81 and a beta of 2.18. Tesla, Inc. has a one year low of $106.67 and a one year high of $900.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.32 and a current ratio of 1.63.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 27th. The electric vehicle producer reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.17. The company had revenue of $10.70 billion during the quarter, compared to the consensus estimate of $10.38 billion. Tesla had a return on equity of 4.93% and a net margin of 1.97%. Tesla’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. Research analysts forecast that Tesla, Inc. will post 1.02 earnings per share for the current year.

Tesla Company 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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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