Centre Asset Management LLC Buys New Position in Tesla, Inc. (NASDAQ:TSLA)

Centre Asset Management LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,128 shares of the electric vehicle producer’s stock, valued at approximately $6,604,000. Tesla makes up approximately 2.1% of Centre Asset Management LLC’s portfolio, making the stock its 17th biggest position.

Other institutional investors have also made changes to their positions in the company. Wealth Alliance Advisory Group LLC bought a new position in Tesla in the fourth quarter worth $293,000. Wealthsource Partners LLC bought a new position in Tesla in the third quarter worth $3,065,000. Financial Futures Ltd Liability Co. bought a new position in Tesla in the fourth quarter worth $291,000. PGGM Investments bought a new position in Tesla in the fourth quarter worth $12,596,000. Finally, Curi Wealth Management LLC bought a new position in Tesla in the fourth quarter worth $98,000. Institutional investors own 40.64% of the company’s stock.

In other news, SVP Andrew D. Baglino sold 433 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $718.31, for a total transaction of $311,028.23. Following the transaction, the senior vice president now owns 20,567 shares of the company’s stock, valued at approximately $14,773,481.77. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Vaibhav Taneja sold 1,300 shares of the firm’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $1,141.94, for a total value of $1,484,522.00. Following the completion of the sale, the chief accounting officer now owns 25,985 shares of the company’s stock, valued at $29,673,310.90. The disclosure for this sale can be found here. Insiders have sold a total of 416,669 shares of company stock valued at $369,312,309 in the last 90 days. 25.00% of the stock is currently owned by company insiders.

Shares of TSLA opened at $708.26 on Thursday. The business’s 50 day moving average is $789.93 and its 200 day moving average is $902.53. The company has a market capitalization of $734.03 billion, a PE ratio of 96.10, a price-to-earnings-growth ratio of 2.31 and a beta of 2.13. Tesla, Inc. has a 12-month low of $620.46 and a 12-month high of $1,243.49. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLAGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The electric vehicle producer reported $2.86 earnings per share for the quarter, beating the consensus estimate of $1.64 by $1.22. The business had revenue of $18.76 billion during the quarter, compared to analysts’ expectations of $17.84 billion. Tesla had a return on equity of 28.11% and a net margin of 13.51%. The firm’s revenue for the quarter was up 80.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. Equities research analysts predict that Tesla, Inc. will post 10.25 earnings per share for the current year.

A number of equities analysts have issued reports on the company. Credit Suisse Group increased their price objective on Tesla from $1,025.00 to $1,125.00 and gave the stock an “outperform” rating in a report on Tuesday, April 19th. Oppenheimer increased their target price on Tesla from $1,103.00 to $1,291.00 and gave the stock an “outperform” rating in a research note on Thursday, April 21st. Tudor Pickering raised Tesla from a “sell” rating to a “hold” rating in a research note on Tuesday, May 17th. Barclays increased their target price on Tesla from $325.00 to $370.00 and gave the stock an “underweight” rating in a research note on Friday, June 10th. Finally, Cowen cut their target price on Tesla from $790.00 to $700.00 and set a “market perform” rating on the stock in a research note on Friday, June 3rd. Eight analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $894.73.

About Tesla (Get Rating)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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