Price T Rowe Associates Inc. MD Buys 9,034,938 Shares of Tesla, Inc. (NASDAQ:TSLA)

Price T Rowe Associates Inc. MD grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 52.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,224,189 shares of the electric vehicle producer’s stock after buying an additional 9,034,938 shares during the period. Tesla accounts for approximately 0.8% of Price T Rowe Associates Inc. MD’s portfolio, making the stock its 18th largest holding. Price T Rowe Associates Inc. MD owned approximately 0.83% of Tesla worth $5,440,471,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Douglass Winthrop Advisors LLC raised its holdings in shares of Tesla by 1.7% during the 1st quarter. Douglass Winthrop Advisors LLC now owns 14,649 shares of the electric vehicle producer’s stock valued at $3,039,000 after buying an additional 240 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of Tesla by 1.8% in the 1st quarter. Stephens Inc. AR now owns 31,979 shares of the electric vehicle producer’s stock valued at $6,634,000 after purchasing an additional 576 shares in the last quarter. Avalon Investment & Advisory raised its position in Tesla by 651.8% in the 1st quarter. Avalon Investment & Advisory now owns 65,291 shares of the electric vehicle producer’s stock worth $13,545,000 after purchasing an additional 56,606 shares during the period. Evermay Wealth Management LLC grew its stake in shares of Tesla by 22.3% during the first quarter. Evermay Wealth Management LLC now owns 2,316 shares of the electric vehicle producer’s stock valued at $480,000 after buying an additional 423 shares during the last quarter. Finally, Williams Jones Wealth Management LLC. grew its position in Tesla by 3.0% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 11,236 shares of the electric vehicle producer’s stock worth $2,331,000 after acquiring an additional 324 shares during the last quarter. 41.87% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $278.70, for a total value of $1,045,125.00. Following the completion of the sale, the chief financial officer now directly owns 197,540 shares in the company, valued at approximately $55,054,398. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $260.00, for a total value of $650,000.00. Following the transaction, the senior vice president now directly owns 65,438 shares in the company, valued at $17,013,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total value of $1,045,125.00. Following the completion of the transaction, the chief financial officer now directly owns 197,540 shares in the company, valued at approximately $55,054,398. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,315 shares of company stock valued at $15,034,135. 25.10% of the stock is currently owned by insiders.

Tesla Price Performance

TSLA stock traded down $2.99 during trading on Friday, hitting $248.50. The stock had a trading volume of 118,559,635 shares, compared to its average volume of 109,796,720. The company’s 50-day moving average price is $256.44 and its two-hundred day moving average price is $218.23. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $313.80. The stock has a market capitalization of $788.74 billion, a P/E ratio of 70.40, a PEG ratio of 3.92 and a beta of 2.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.07.

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 analysts’ consensus estimates of $0.69 by $0.22. The company had revenue of $24.93 billion for 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%. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. As a group, research analysts predict that Tesla, Inc. will post 2.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com initiated coverage on Tesla in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $260.00 to $270.00 and gave the company a “buy” rating in a report on Monday, July 3rd. UBS Group cut shares of Tesla from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $220.00 to $270.00 in a research note on Monday, July 24th. Jefferies Financial Group lifted their target price on Tesla from $185.00 to $265.00 and gave the company a “hold” rating in a research report on Monday, July 10th. Finally, TD Cowen upped their price target on Tesla from $150.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, July 20th. Six investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $233.77.

Tesla Company 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.