Talbot Financial LLC Has $214,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Talbot Financial LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 36.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,216 shares of the electric vehicle producer’s stock after buying an additional 324 shares during the period. Talbot Financial LLC’s holdings in Tesla were worth $214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 3,866,361 shares in the last quarter. Norges Bank bought a new stake in Tesla during the fourth quarter worth about $7,844,757,000. Morgan Stanley raised its holdings in Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Tesla by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after acquiring an additional 458,804 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings 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 in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on TSLA shares. Morgan Stanley restated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, June 20th. Royal Bank of Canada dropped their price objective on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Wedbush restated an “outperform” rating and issued a $275.00 price objective on shares of Tesla in a research note on Friday, June 14th. Truist Financial dropped their price objective on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a research note on Monday. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $187.30.

Tesla Price Performance

Shares of TSLA stock traded up $11.98 during trading hours on Monday, reaching $209.86. The company’s stock had a trading volume of 135,243,688 shares, compared to its average volume of 95,650,203. The firm’s 50 day simple moving average is $177.80 and its 200-day simple moving average is $191.38. The company has a market capitalization of $669.29 billion, a price-to-earnings ratio of 53.54, a PEG ratio of 4.91 and a beta of 2.31. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Sell-side analysts forecast that Tesla, Inc. will post 1.86 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction 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 completion of 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. Company insiders own 20.90% of the company’s stock.

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.