Ellenbecker Investment Group Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)


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Ellenbecker Investment Group lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 894 shares of the electric vehicle producer’s stock after buying an additional 135 shares during the quarter. Ellenbecker Investment Group’s holdings in Tesla were worth $597,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TSLA. Norges Bank bought a new stake in Tesla during the 4th quarter worth approximately $5,497,219,000. Northern Trust Corp increased its holdings in Tesla by 64.1% during the 4th quarter. Northern Trust Corp now owns 8,094,441 shares of the electric vehicle producer’s stock worth $5,712,005,000 after acquiring an additional 3,160,909 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Tesla by 61.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,384,831 shares of the electric vehicle producer’s stock worth $2,388,575,000 after acquiring an additional 1,288,796 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Tesla by 57.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,472,998 shares of the electric vehicle producer’s stock worth $2,450,790,000 after buying an additional 1,263,228 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Tesla by 400.9% in the 3rd quarter. California State Teachers Retirement System now owns 1,434,428 shares of the electric vehicle producer’s stock worth $615,384,000 after buying an additional 1,148,048 shares during the last quarter. 41.39% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:TSLA traded up $14.89 on Thursday, hitting $685.86. The company had a trading volume of 580,501 shares, compared to its average volume of 35,435,129. The firm’s 50-day simple moving average is $677.13 and its two-hundred day simple moving average is $621.74. Tesla, Inc. has a 1 year low of $106.67 and a 1 year high of $900.40. The company has a quick ratio of 1.32, a current ratio of 1.63 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $658.33 billion, a price-to-earnings ratio of 1,374.18, a P/E/G ratio of 8.81 and a beta of 2.18.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 27th. The electric vehicle producer reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.17. Tesla had a net margin of 1.97% and a return on equity of 4.93%. The firm had revenue of $10.70 billion during the quarter, compared to analysts’ expectations of $10.38 billion. During the same period last year, the company posted $0.41 EPS. The company’s quarterly revenue was up 44.9% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 1.02 EPS for the current year.

A number of brokerages have recently commented on TSLA. Morgan Stanley reissued a “buy” rating on shares of Tesla in a report on Tuesday. Exane BNP Paribas lowered shares of Tesla from a “neutral” rating to an “underperform” rating and set a $340.00 price target on the stock. in a report on Tuesday, January 5th. Jefferies Financial Group reissued a “hold” rating and issued a $700.00 price target (down previously from $775.00) on shares of Tesla in a report on Monday, March 29th. The Goldman Sachs Group lowered shares of Tesla from a “neutral” rating to a “sell” rating in a report on Tuesday, February 2nd. Finally, Cfra cut shares of Tesla from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 18th. Twelve equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $368.54.

In related news, insider Jerome M. Guillen sold 10,000 shares of the stock in a transaction dated Monday, January 11th. The shares were sold at an average price of $833.75, for a total value of $8,337,500.00. Following the completion of the transaction, the insider now directly owns 59,654 shares in the company, valued at approximately $49,736,522.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Vaibhav Taneja sold 4,453 shares of the stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $696.57, for a total transaction of $3,101,826.21. Following the completion of the transaction, the chief accounting officer now owns 18,229 shares of the company’s stock, valued at $12,697,774.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,653 shares of company stock valued at $65,044,749. Corporate insiders own 23.00% of the company’s stock.

Tesla Company 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.

Further Reading: Short Selling

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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