First Trust Direct Indexing L.P. Buys 7,250 Shares of Tesla, Inc. (NASDAQ:TSLA)

First Trust Direct Indexing L.P. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 55,835 shares of the electric vehicle producer’s stock after buying an additional 7,250 shares during the period. Tesla makes up approximately 1.2% of First Trust Direct Indexing L.P.’s holdings, making the stock its 8th biggest holding. First Trust Direct Indexing L.P.’s holdings in Tesla were worth $13,874,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wyrmwood Management LLC acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $25,000. Lam Group Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $25,000. Mendota Financial Group LLC raised its holdings in shares of Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the last quarter. Kathleen S. Wright Associates Inc. raised its holdings in shares of Tesla by 111.1% in the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. Finally, Cordant Inc. acquired a new stake in shares of Tesla in the third quarter valued at approximately $53,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,706 shares of the company’s 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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated 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 transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock valued at $38,802,534 over the last ninety days. 20.90% of the stock is currently owned by corporate insiders.

Tesla Stock Down 1.8 %

Shares of NASDAQ TSLA traded down $3.29 during trading on Wednesday, reaching $179.99. The company had a trading volume of 92,577,555 shares, compared to its average volume of 105,217,711. The stock has a market cap of $574.02 billion, a PE ratio of 45.96, a P/E/G ratio of 5.28 and a beta of 2.39. 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, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The business’s 50-day moving average is $174.71 and its 200 day moving average is $206.29.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Evercore ISI decreased their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Citigroup boosted their price target on Tesla from $180.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. TD Cowen dropped their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Finally, Canaccord Genuity Group dropped their price target on Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $184.32.

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.