The Vanguard Group, Inc. recently announced the acquisition of new stake in Tesla Inc. (NASDAQ:TSLA). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.94% to 8.47 million shares with purchase of 0.16 million shares. This fresh investment now brings its stake to 4.55% valued currently at $12.12 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.29 million to 5.44 million shares. And Fidelity Management & Research Co.. has lifted its position by 3.03% or 0.13 million shares – to 4.39 million shares.
With over 116.92 million Tesla Inc. (TSLA) shares trading Monday and a closing price of $498.32 on the day, the dollar volume was approximately $58.26 billion. The shares have shown a positive weekly performance of 23.70% and its price on 08/31/20 gained nearly 12.57%. Currently, there are 186.00M common shares owned by the public and among those 148.29M shares have been available to trade.
Incidentally, analysts’ outlook for the Tesla Inc. stock is 3.00 for the next 12 months.
Insiders at the company have transacted a total of 252 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 106 of these insider trades were purchases, accounting for 167,286 shares. Insider sales of the common stock occurred on 146 occasions, with total insider shares sold totaling 190,278 shares.
The top 3 mutual fund holders in Tesla Inc. are American Funds Growth Fund of Ame, Vanguard Total Stock Market Index, and American Funds New Perspective Fu. American Funds Growth Fund of Ame owns 5.15 million shares of the company’s stock, all valued at over $7.36 billion. Vanguard Total Stock Market Index sold 11596.0 shares to see its total holdings shrink to 4.22 million shares valued at over $6.04 billion and representing 2.26% of the shares outstanding. American Funds New Perspective Fu bought 10000.0 shares to bring its total holdings to over 3.39 million shares at a value of $4.85 billion. American Funds New Perspective Fu now owns shares totaling to 1.82% of the shares outstanding.
Shares of Tesla Inc. (NASDAQ: TSLA) opened at $444.61, up $1.93 from a prior closing price of $442.68. However, the script later closed the day at $498.32, up 12.57%. The company’s stock has a 5-day price change of 23.70% and 182.64% over the past three months. TSLA shares are trading 495.61% year to date (YTD), with the 12-month market performance up to 1004.38% higher. It has a 12-month low price of $43.60 and touched a high of $463.70 over the same period. Currently, 116.92 million shares have been traded, compared to an average intraday trading volume of 71.87 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 41.11%, 65.16%, and 194.57% respectively.
Institutional ownership of Tesla Inc. (NASDAQ: TSLA) shares accounts for 49.30% of the company’s 186.00M shares outstanding. Mutual fund holders own 28.34%, while other institutional holders and individual stakeholders account for 31.31% and 20.92% respectively.
It has a market capitalization of $93.93B and a beta (3y monthly) value of 1.52. The stock’s trailing 12-month PE ratio is 256.47, while the earnings-per-share (ttm) stands at $1.94. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.07% over the week and 5.91% over the month.
Analysts forecast that Tesla Inc. (TSLA) will achieve an EPS of $0.53 for the current quarter, $0.74 for the next quarter and $3.08 for 2021. The lowest estimate earnings-per-share for the quarter is $0.22 while analysts give the company a high EPS estimate of $0.91. Comparatively, EPS for the current quarter was $0.37 a year ago. Earnings per share for the fiscal year are expected to increase by 14.90%, and 79.53% over the next financial year.
Looking at the support for the TSLA, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on August 26, 2020, with the firm’s price target at $1200-$2500. Morgan Stanley coverage for the Tesla Inc. (TSLA) stock in a research note released on August 14, 2020 offered a Equal-Weight rating with a price target of $1360. BofA Securities was of a view on August 14, 2020 that the stock is Neutral, while Morgan Stanley gave the stock Underweight rating on July 29, 2020, issuing a price target of $740- $1050. Bernstein on their part issued Underperform rating on July 28, 2020.