Wellington Capital Management Inc. Purchases New Position in Tesla, Inc. $TSLA

Wellington Capital Management Inc. acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,195 shares of the electric vehicle producer’s stock, valued at approximately $379,000.

Other hedge funds have also recently made changes to their positions in the company. Chapman Financial Group LLC bought a new position in Tesla in the 2nd quarter worth $26,000. Chelsea Counsel Co. increased its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the period. LGT Financial Advisors LLC bought a new position in Tesla in the second quarter worth about $29,000. CoreFirst Bank & Trust purchased a new stake in Tesla in the second quarter worth about $30,000. Finally, ESL Trust Services LLC boosted its position in Tesla by 1,900.0% during the 2nd quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 95 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research analyst reports. William Blair reiterated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. China Renaissance upped their price target on Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a research note on Friday, October 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Thursday, October 23rd. TD Cowen upped their target price on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Stifel Nicolaus lifted their price target on shares of Tesla from $483.00 to $508.00 and gave the company a “buy” rating in a research report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $399.33.

Tesla Stock Up 2.7%

NASDAQ:TSLA opened at $458.96 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a market cap of $1.53 trillion, a P/E ratio of 305.97, a P/E/G ratio of 15.50 and a beta of 1.87. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm has a 50-day simple moving average of $435.52 and a two-hundred day simple moving average of $376.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the sale, the director owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. The trade was a 3.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 119,457 shares of company stock worth $52,137,945 over the last three months. 19.90% of the stock is currently owned by company insiders.

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.