Abbrea Capital LLC Purchases 1,947 Shares of Tesla, Inc. (NASDAQ:TSLA)

Abbrea Capital LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 20.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,541 shares of the electric vehicle producer’s stock after buying an additional 1,947 shares during the period. Abbrea Capital LLC’s holdings in Tesla were worth $2,868,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Mount Vernon Associates Inc. MD increased its holdings in shares of Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares in the last quarter. Oak Ridge Investments LLC increased its holdings in shares of Tesla by 4.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after purchasing an additional 1,405 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Tesla by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after purchasing an additional 25,943 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after purchasing an additional 6,615 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Tesla by 11.8% in the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after acquiring an additional 81,729 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 1.1 %

NASDAQ:TSLA traded down $1.89 during trading hours on Friday, hitting $168.29. 109,363,363 shares of the company were exchanged, compared to its average volume of 103,381,336. The stock has a market capitalization of $535.97 billion, a price-to-earnings ratio of 43.44, a price-to-earnings-growth ratio of 4.28 and a beta of 2.39. The company has a current ratio of 1.72, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a fifty day simple moving average of $175.67 and a 200 day simple moving average of $208.64.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. Sell-side analysts expect that Tesla, Inc. will post 1.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Edward Jones lowered shares of Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Guggenheim reissued a “sell” rating and issued a $122.00 price target on shares of Tesla in a report on Tuesday. Canaccord Genuity Group cut their price target on shares of Tesla from $234.00 to $222.00 and set a “buy” rating for the company in a report on Wednesday. Finally, HSBC dropped their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a report on Wednesday. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $186.70.

Insider Buying and Selling

In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last ninety days. 25.10% of the stock is owned by corporate insiders.

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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.