Aberdeen Group plc Boosts Stake in Tesla, Inc. $TSLA

Key Points

• Aberdeen Group plc increased its stake in Tesla, Inc. by 4.8%, owning approximately 4.59 million shares valued at $1.47 billion, making Tesla its fifth largest holding.
• Goldman Sachs significantly boosted its investment in Tesla by 322.1%, now holding over 26.5 million shares worth about $6.89 billion.
• Tesla's latest earnings report showed a missed estimate of $0.43 per share, reporting $0.40, along with a decline in revenue of 11.8% year-over-year.

Aberdeen Group plc grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,590,417 shares of the electric vehicle producer's stock after buying an additional 210,585 shares during the quarter. Tesla makes up 2.5% of Aberdeen Group plc's holdings, making the stock its 5th biggest holding. Aberdeen Group plc owned approximately 0.14% of Tesla worth $1,473,501,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Goldman Sachs Group Inc. grew its stake in shares of Tesla by 322.1% during the first 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 last quarter. Nuveen LLC acquired a new stake in Tesla in the first quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC raised its position in Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock worth $2,044,683,000 after purchasing an additional 6,435,598 shares during the last quarter. Amundi raised its position in Tesla by 29.4% during 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 during the last quarter. Finally, Vanguard Group Inc. raised its position in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

TSLA stock opened at $413.49 on Friday. The company's fifty day simple moving average is $375.97 and its 200 day simple moving average is $327.89. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a PEG ratio of 15.01 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $23.18 billion. During the same quarter in the prior year, the company posted $0.52 EPS. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. On average, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% 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 link. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. William Blair reaffirmed a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Thursday, October 2nd. TD Cowen raised their target price on Tesla from $374.00 to $509.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Mizuho boosted their target price on shares of Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a report on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $354.67.

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.

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.