Catalyst Capital Advisors LLC Acquires 613 Shares of Tesla, Inc. $TSLA

Key Points

• Catalyst Capital Advisors LLC increased its holdings in Tesla, Inc. by 52.6%, acquiring an additional 613 shares, bringing its total ownership to 1,778 shares valued at approximately $565,000.
• Several institutional investors significantly raised their stakes in Tesla, with Goldman Sachs increasing its holdings by 322.1% and Kingstone Capital Partners Texas LLC boosting theirs by an astonishing 581,880.5%.
• Tesla's latest quarterly earnings revealed an EPS of $0.50, exceeding analysts' expectations, and a revenue of $28.10 billion, marking an 11.6% year-over-year increase.

Catalyst Capital Advisors LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 52.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,778 shares of the electric vehicle producer's stock after acquiring an additional 613 shares during the period. Catalyst Capital Advisors LLC's holdings in Tesla were worth $565,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TSLA. Goldman Sachs Group Inc. grew its holdings in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new position in Tesla during the first quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC grew its holdings in Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Amundi grew its holdings in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. grew its holdings 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 during the period. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last three months. 19.90% of the stock is owned by corporate insiders.

Tesla Price Performance

Tesla stock opened at $433.72 on Friday. The stock has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a PEG ratio of 16.13 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $398.06 and a 200 day simple moving average of $339.92. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on TSLA shares. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday. Canaccord Genuity Group reduced their price objective on Tesla from $490.00 to $482.00 and set a "buy" rating for the company in a report on Thursday. Bank of America increased their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Melius Research set a $520.00 target price on Tesla and gave the stock a "buy" rating in a research report on Monday, October 13th. Finally, Industrial Alliance Securities set a $300.00 price objective on Tesla in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the stock. According to MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $380.03.

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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