Raymond James & Associates Has $205.23 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Raymond James & Associates lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,167,495 shares of the electric vehicle producer’s stock after buying an additional 19,242 shares during the quarter. Raymond James & Associates’ holdings in Tesla were worth $205,234,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after purchasing an additional 3,866,361 shares in the last quarter. Norges Bank bought a new stake in shares of Tesla in the 4th quarter valued at $7,844,757,000. Morgan Stanley lifted its position in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after acquiring an additional 2,177,397 shares during the period. FMR LLC boosted its stake in Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after acquiring an additional 269,182 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Tesla by 3.4% in the third quarter. Northern Trust Corp now owns 27,542,824 shares of the electric vehicle producer’s stock worth $6,891,765,000 after purchasing an additional 909,170 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TSLA. Royal Bank of Canada reduced their target price on Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a research note on Wednesday. Edward Jones downgraded Tesla from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Mizuho dropped their price objective on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $205.00 price objective on shares of Tesla in a report on Monday, April 22nd. Finally, Wells Fargo & Company dropped their price target on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research report on Friday, April 12th. Eight analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $186.70.

Tesla Stock Performance

NASDAQ:TSLA traded down $1.89 on Friday, reaching $168.29. 109,309,500 shares of the company’s stock were exchanged, compared to its average volume of 100,050,800. The firm has a market cap of $536.71 billion, a price-to-earnings ratio of 42.93, a P/E/G ratio of 4.50 and a beta of 2.39. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.25. The stock has a fifty day simple moving average of $175.04 and a 200-day simple moving average of $208.00. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period last year, the business posted $1.07 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts predict that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 over the last 90 days. Corporate insiders own 25.10% of the company’s stock.

Tesla 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.