Wellington Management Group LLP Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wellington Management Group LLP boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 38.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,174,135 shares of the electric vehicle producer's stock after purchasing an additional 2,829,609 shares during the quarter. 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 about 0.32% of Tesla worth $4,108,723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Tesla in the 4th quarter valued at $14,420,248,000. Strategic Financial Concepts LLC boosted its holdings in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after buying an additional 8,637,195 shares during the last quarter. Proficio Capital Partners LLC grew its position in Tesla by 55,181.0% during the fourth quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer's stock valued at $1,769,899,000 after buying an additional 4,374,746 shares during the period. Assenagon Asset Management S.A. increased its holdings in Tesla by 194.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,486,739 shares of the electric vehicle producer's stock worth $2,215,765,000 after buying an additional 3,624,910 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after acquiring an additional 3,571,793 shares during the period. Institutional investors own 66.20% of the company's stock.

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Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total value of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the sale, the chief financial officer now owns 108,965 shares of the company's stock, valued at $45,063,565.40. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,228 shares of company stock worth $166,849,043. Company insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TSLA shares. Barclays raised their price target on shares of Tesla from $270.00 to $325.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 15th. Wedbush reissued an "outperform" rating and issued a $550.00 target price on shares of Tesla in a research report on Thursday, March 27th. Mizuho dropped their price target on Tesla from $515.00 to $430.00 and set an "outperform" rating on the stock in a research report on Monday, March 17th. Bank of America decreased their price objective on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, Truist Financial boosted their price objective on Tesla from $351.00 to $373.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. Nine investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $317.75.

Tesla Price Performance

NASDAQ:TSLA traded up $9.30 during mid-day trading on Tuesday, reaching $268.46. The stock had a trading volume of 145,757,545 shares, compared to its average volume of 93,590,340. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a 50 day moving average price of $317.98 and a two-hundred day moving average price of $323.21. The stock has a market capitalization of $863.51 billion, a P/E ratio of 131.60, a P/E/G ratio of 5.86 and a beta of 2.50.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, analysts expect 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.