Wellington Management Group LLP Sells 447,687 Shares of Tesla, Inc. (NASDAQ:TSLA)

Wellington Management Group LLP trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 12.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,242,610 shares of the electric vehicle producer’s stock after selling 447,687 shares during the period. Wellington Management Group LLP owned 0.10% of Tesla worth $672,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of TSLA. Axiom Financial Strategies LLC lifted its holdings in shares of Tesla by 9.8% in the 1st quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after buying an additional 81 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Tesla by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock worth $1,079,672,000 after purchasing an additional 164,789 shares in the last quarter. MAS Advisors LLC grew its stake in shares of Tesla by 25.7% during the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock worth $433,000 after purchasing an additional 81 shares during the period. Ergoteles LLC grew its position in Tesla by 33.4% during the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after buying an additional 893 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Tesla by 6.8% in the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock worth $77,767,000 after purchasing an additional 4,593 shares during the period. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Tesla Stock Up 1.2 %

TSLA traded up $2.96 during trading on Thursday, hitting $259.86. The company had a trading volume of 54,504,271 shares, compared to its average volume of 145,528,531. Tesla, Inc. has a 1-year low of $101.81 and a 1-year high of $313.80. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.07. The company has a market cap of $824.79 billion, a PE ratio of 73.27, a P/E/G ratio of 3.70 and a beta of 2.07. The business has a 50-day moving average of $257.07 and a 200-day moving average of $215.98.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.22. The firm had revenue of $24.93 billion during the quarter, compared to analyst estimates of $24.22 billion. Tesla had a return on equity of 26.10% and a net margin of 12.97%. Tesla’s quarterly revenue was up 47.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 2.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Zachary Kirkhorn sold 3,750 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $217.69, for a total value of $816,337.50. Following the completion of the transaction, the chief financial officer now owns 191,822 shares in the company, valued at approximately $41,757,731.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Zachary Kirkhorn sold 3,750 shares of Tesla stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $217.69, for a total transaction of $816,337.50. Following the transaction, the chief financial officer now directly owns 191,822 shares of the company’s stock, valued at $41,757,731.18. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $242.53, for a total transaction of $2,546,565.00. Following the completion of the sale, the senior vice president now directly owns 66,834 shares of the company’s stock, valued at $16,209,250.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,979 shares of company stock worth $17,907,222. 20.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Guggenheim reaffirmed a “sell” rating and set a $125.00 target price on shares of Tesla in a research note on Wednesday. Bank of America boosted their price target on Tesla from $225.00 to $300.00 in a research report on Thursday, July 6th. Citigroup raised their price objective on Tesla from $215.00 to $278.00 and gave the company a “neutral” rating in a report on Wednesday, July 12th. Robert W. Baird increased their target price on shares of Tesla from $252.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, July 17th. Finally, Jefferies Financial Group upped their price objective on shares of Tesla from $185.00 to $265.00 and gave the company a “hold” rating in a research note on Monday, July 10th. Six research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $233.77.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.