BIP Wealth LLC Has $1.49 Million Position in Tesla, Inc. (NASDAQ:TSLA)

BIP Wealth LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 45.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,002 shares of the electric vehicle producer’s stock after purchasing an additional 1,878 shares during the period. BIP Wealth LLC’s holdings in Tesla were worth $1,492,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.6% during the third quarter. Vanguard Group Inc. now owns 225,940,011 shares of the electric vehicle producer’s stock worth $56,534,710,000 after buying an additional 3,453,078 shares in the last quarter. Morgan Stanley grew its stake in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the last quarter. FMR LLC grew its stake in shares of Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after purchasing an additional 269,182 shares during the last quarter. Northern Trust Corp grew its stake in shares of Tesla by 3.4% during the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock valued at $6,891,765,000 after purchasing an additional 909,170 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Tesla by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 14,697,074 shares of the electric vehicle producer’s stock valued at $3,677,502,000 after purchasing an additional 496,299 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of several research analyst reports. Mizuho decreased their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday. Barclays reduced their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada reduced their price objective on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating on the stock in a research note on Wednesday. China Renaissance began coverage on shares of Tesla in a research note on Monday, February 26th. They issued a “hold” rating on the stock. Finally, Citigroup raised their price objective on shares of Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $186.22.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. 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 three months. 20.90% of the stock is owned by company insiders.

Tesla Price Performance

TSLA stock traded up $17.45 during trading on Wednesday, reaching $162.13. 180,807,331 shares of the company were exchanged, compared to its average volume of 103,011,320. The company has a 50-day moving average of $176.28 and a two-hundred day moving average of $208.91. The company has a market capitalization of $516.35 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 3.75 and a beta of 2.39. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. During the same quarter last year, the company posted $1.07 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current fiscal 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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.