728 Shares in Tesla, Inc. $TSLA Purchased by Old Port Advisors

Key Points

• Old Port Advisors has purchased 728 shares of Tesla, valued at approximately $231,000, indicating growing interest from institutional investors in the electric vehicle sector.
• Significant boosts in holdings have been made by other hedge funds, such as **Vanguard** increasing its stake to over **246 million shares** and **Goldman Sachs** growing its position by **322%** during the first quarter.
• Analysts have given mixed reviews on Tesla's stock, with **Wedbush** raising the target price to **$600** while **UBS** maintains a **sell** rating, reflecting diverse market perspectives on the company's future performance.

Old Port Advisors bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 728 shares of the electric vehicle producer's stock, valued at approximately $231,000.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after purchasing an additional 849,091 shares during the last quarter. Amundi boosted its stake in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after purchasing an additional 2,211,300 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank Of Canada reiterated a "buy" rating on shares of Tesla in a report on Friday. Wedbush increased their target price on Tesla from $500.00 to $600.00 and gave the stock an "outperform" rating in a research note on Friday. The Goldman Sachs Group lifted their price objective on shares of Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a research report on Thursday, September 18th. UBS Group reaffirmed a "sell" rating on shares of Tesla in a research report on Monday, September 22nd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $332.33.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,606 shares of company stock worth $77,360,462. Company insiders own 19.90% of the company's stock.

Tesla Stock Up 4.0%

Shares of NASDAQ TSLA opened at $440.40 on Friday. The company has a market capitalization of $1.46 trillion, a P/E ratio of 254.57, a price-to-earnings-growth ratio of 15.36 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company's 50 day moving average price is $352.05 and its 200-day moving average price is $314.88. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period last year, the company posted $0.52 EPS. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts forecast 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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.