First Trust Direct Indexing L.P. Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

First Trust Direct Indexing L.P. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,268 shares of the electric vehicle producer’s stock after buying an additional 2,433 shares during the period. Tesla accounts for 0.8% of First Trust Direct Indexing L.P.’s investment portfolio, making the stock its 14th biggest holding. First Trust Direct Indexing L.P.’s holdings in Tesla were worth $10,243,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wyrmwood Management LLC bought a new position in Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. bought a new position in Tesla in the 4th quarter valued at $25,000. Mendota Financial Group LLC boosted its holdings in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the period. OLD Point Trust & Financial Services N A bought a new position in Tesla in the 4th quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. raised its position in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TSLA shares. Morgan Stanley restated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, June 20th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research note on Wednesday, April 24th. The Goldman Sachs Group reissued a “neutral” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday. Wedbush increased their target price on Tesla from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $189.47.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is owned by corporate insiders.

Tesla Stock Up 6.5 %

Shares of TSLA traded up $15.13 on Thursday, reaching $246.39. The stock had a trading volume of 166,561,471 shares, compared to its average volume of 80,957,576. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The firm has a market capitalization of $785.79 billion, a price-to-earnings ratio of 62.85, a price-to-earnings-growth ratio of 5.74 and a beta of 2.31. The company has a 50-day simple moving average of $182.57 and a 200-day simple moving average of $191.32.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Sell-side analysts predict that Tesla, Inc. will post 1.86 EPS 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.