Tesla, Inc. $TSLA Holdings Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,601 shares of the electric vehicle producer’s stock after acquiring an additional 4,628 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Tesla were worth $118,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Chapman Financial Group LLC acquired a new stake in Tesla in the second quarter worth $26,000. Manning & Napier Advisors LLC acquired a new position in shares of Tesla during the third quarter valued at $29,000. CoreFirst Bank & Trust bought a new position in shares of Tesla during the second quarter worth about $30,000. Turning Point Benefit Group Inc. acquired a new stake in shares of Tesla in the 3rd quarter worth about $30,000. Finally, Texas Capital Bancshares Inc TX acquired a new stake in shares of Tesla in the 3rd quarter worth about $31,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,264 shares of Tesla stock in a transaction on Friday, March 6th. The stock was sold at an average price of $397.03, for a total transaction of $898,875.92. Following the transaction, the chief financial officer directly owned 18,106 shares in the company, valued at approximately $7,188,625.18. This trade represents a 11.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 25,731 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $415.56, for a total value of $10,692,774.36. Following the completion of the sale, the director directly owned 19,669 shares in the company, valued at $8,173,649.64. This represents a 56.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 87,995 shares of company stock valued at $38,315,650. 19.90% of the stock is owned by corporate insiders.

Tesla Trading Up 4.6%

Shares of NASDAQ:TSLA opened at $371.75 on Wednesday. The company has a 50 day moving average of $405.61 and a 200-day moving average of $428.65. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.39 trillion, a P/E ratio of 344.21, a P/E/G ratio of 10.52 and a beta of 1.89. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The business had revenue of $24.90 billion for the quarter, compared to analyst estimates of $24.75 billion. During the same quarter last year, the business earned $0.73 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Key Tesla News

Here are the key news stories impacting Tesla this week:

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Tesla from $500.00 to $480.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Wedbush reaffirmed an “outperform” rating and set a $600.00 price target on shares of Tesla in a report on Friday, March 27th. President Capital reduced their price objective on Tesla from $517.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Wells Fargo & Company decreased their price objective on Tesla from $130.00 to $125.00 and set an “underweight” rating for the company in a report on Thursday, January 29th. Finally, Morgan Stanley set a $415.00 target price on Tesla and gave the company an “equal weight” rating in a research report on Thursday, January 29th. Nineteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $403.98.

Read Our Latest Stock Report on TSLA

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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