Wellington Management Group LLP Buys 2,829,609 Shares of Tesla, Inc. (NASDAQ:TSLA)

Wellington Management Group LLP raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 38.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,174,135 shares of the electric vehicle producer’s stock after acquiring an additional 2,829,609 shares during the period. Tesla comprises approximately 0.8% of Wellington Management Group LLP’s investment portfolio, making the stock its 19th largest holding. Wellington Management Group LLP owned 0.32% of Tesla worth $4,108,723,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Hengehold Capital Management LLC increased its position in shares of Tesla by 1.8% during the 4th quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer’s stock valued at $544,000 after purchasing an additional 24 shares during the last quarter. Strategic Investment Advisors MI raised its position in Tesla by 0.3% in the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer’s stock worth $2,823,000 after purchasing an additional 24 shares during the period. Acropolis Investment Management LLC boosted its position in shares of Tesla by 0.9% during the fourth quarter. Acropolis Investment Management LLC now owns 2,814 shares of the electric vehicle producer’s stock valued at $1,136,000 after buying an additional 25 shares during the period. Mount Vernon Associates Inc. MD grew its stake in shares of Tesla by 0.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 7,305 shares of the electric vehicle producer’s stock valued at $2,950,000 after buying an additional 25 shares during the last quarter. Finally, Vista Finance LLC raised its holdings in shares of Tesla by 0.7% in the fourth quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after buying an additional 25 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 477,228 shares of company stock valued at $166,849,043. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $263.55 on Monday. The company has a 50 day moving average price of $321.33 and a 200-day moving average price of $323.01. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The firm has a market cap of $847.71 billion, a price-to-earnings ratio of 129.19, a price-to-earnings-growth ratio of 5.86 and a beta of 2.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TSLA. The Goldman Sachs Group restated a “cautious” rating on shares of Tesla in a report on Monday, March 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $404.00 price target on shares of Tesla in a research note on Monday, March 17th. JPMorgan Chase & Co. dropped their target price on shares of Tesla from $135.00 to $120.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 12th. Truist Financial lifted their price target on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Morgan Stanley dropped their price objective on Tesla from $430.00 to $410.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $318.34.

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. 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.