McIlrath & Eck LLC Buys 1,909 Shares of Tesla, Inc. (NASDAQ:TSLA)

McIlrath & Eck LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 136.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,305 shares of the electric vehicle producer’s stock after acquiring an additional 1,909 shares during the period. McIlrath & Eck LLC’s holdings in Tesla were worth $821,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Tesla by 1.6% in 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 purchasing an additional 3,453,078 shares during the last quarter. Morgan Stanley raised 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 acquiring an additional 2,177,397 shares during the last quarter. FMR LLC raised 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 acquiring an additional 269,182 shares during the last quarter. Northern Trust Corp raised 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 acquiring an additional 909,170 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised 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 acquiring an additional 496,299 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

TSLA stock traded down $1.75 during midday trading on Thursday, hitting $178.24. 30,717,018 shares of the stock traded hands, compared to its average volume of 104,243,039. The firm has a market cap of $568.44 billion, a P/E ratio of 45.92, a PEG ratio of 4.98 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The stock’s fifty day simple moving average is $174.41 and its 200-day simple moving average is $206.11. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $299.29.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TSLA shares. Jefferies Financial Group cut their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Barclays cut their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Wednesday, April 24th. Wells Fargo & Company cut their price target on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, April 12th. Finally, Sanford C. Bernstein cut their target price on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research report on Tuesday, March 26th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $185.90.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on 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 directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 transaction 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. Over the last quarter, insiders have sold 209,098 shares of company stock worth $38,802,534. 25.10% of the stock is owned by company insiders.

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.