Tesla, Inc. (NASDAQ:TSLA) Stake Increased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.0% in the second quarter, Holdings Channel.com reports. The firm owned 249,279 shares of the electric vehicle producer’s stock after purchasing an additional 2,349 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Tesla were worth $49,327,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TSLA. Vantage Financial Partners LLC lifted its holdings in shares of Tesla by 6.4% in the fourth quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock valued at $1,432,000 after purchasing an additional 346 shares in the last quarter. Gilbert & Cook Inc. lifted its holdings in shares of Tesla by 8.7% in the fourth quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after purchasing an additional 1,086 shares in the last quarter. 9258 Wealth Management LLC lifted its holdings in shares of Tesla by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock valued at $1,532,000 after purchasing an additional 69 shares in the last quarter. Rollins Financial raised its holdings in shares of Tesla by 10.2% during the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after acquiring an additional 11,191 shares in the last quarter. Finally, Paulson Wealth Management Inc. raised its holdings in shares of Tesla by 7.0% during the fourth quarter. Paulson Wealth Management Inc. now owns 869 shares of the electric vehicle producer’s stock worth $216,000 after acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 2.5 %

Shares of TSLA opened at $260.46 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $221.89 and a two-hundred day moving average price of $198.88. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The stock has a market cap of $830.66 billion, a price-to-earnings ratio of 66.44, a P/E/G ratio of 6.92 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock worth $16,663,291 in the last quarter. Insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group cut their price objective on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a report on Monday, July 1st. William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $224.00 price objective on shares of Tesla in a report on Wednesday, September 25th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, September 5th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $209.90.

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.