Dorsey Wright & Associates Purchases New Stake in Tesla, Inc. (NASDAQ:TSLA)

Dorsey Wright & Associates acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,967 shares of the electric vehicle producer's stock, valued at approximately $2,842,000.

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Other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tesla in the fourth quarter worth about $56,600,000. Means Investment CO. Inc. raised its holdings in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares in the last quarter. Focus Financial Network Inc. increased its position in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after buying an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Tesla during the fourth quarter valued at approximately $8,158,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. Benchmark reiterated a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Morgan Stanley reissued an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Truist Financial set a $280.00 target price on Tesla in a report on Tuesday, April 22nd. Finally, Barclays lowered their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of "Hold" and an average target price of $298.97.

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View Our Latest Research Report on Tesla

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 835,509 shares of company stock worth $279,420,485. Company insiders own 20.70% of the company's stock.

Tesla Trading Up 0.1%

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Shares of TSLA stock opened at $332.56 on Thursday. The company's fifty day simple moving average is $326.13 and its two-hundred day simple moving average is $315.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The stock has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 182.73, a PEG ratio of 12.61 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.

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