Baron Silver Stevens Financial Advisors LLC Raises Position in Tesla, Inc. $TSLA

Key Points

• Baron Silver Stevens Financial Advisors LLC increased its position in Tesla by 18.7%, acquiring an additional 588 shares during the second quarter, resulting in total holdings worth $1.187 million.
• Several major institutional investors, including Vanguard Group and Goldman Sachs, also raised their stakes in Tesla, with a combined 66.20% of the stock currently held by institutional investors.
• Analysts have mixed opinions on Tesla, with a consensus rating of "Hold" and a price target averaging $332.33, while Deutsche Bank recently raised its target price for Tesla shares to $435.00.

Baron Silver Stevens Financial Advisors LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,736 shares of the electric vehicle producer's stock after acquiring an additional 588 shares during the quarter. Baron Silver Stevens Financial Advisors LLC's holdings in Tesla were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Tesla by 1.5% in the 1st 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. increased 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 period. Charles Schwab Investment Management Inc. raised its holdings in Tesla by 4.9% in 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 acquiring an additional 849,091 shares in the last quarter. Amundi grew its holdings 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 acquiring an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. increased its position 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 valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TSLA. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a research note on Friday. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 19th. Stifel Nicolaus set a $440.00 target price on Tesla in a research report on Friday, September 5th. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $332.33.

Tesla Stock Performance

Shares of Tesla stock opened at $443.21 on Tuesday. The firm's fifty day simple moving average is $354.34 and its 200-day simple moving average is $316.75. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 256.19, a PEG ratio of 15.36 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS 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 business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Insiders sold a total of 208,606 shares of company stock valued at $77,360,462 in the last ninety days. Insiders own 19.90% of the company's stock.

Tesla Company 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.

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