Consolidated Capital Management LLC Takes $323,000 Position in Tesla, Inc. $TSLA

Key Points

• Consolidated Capital Management LLC acquired a new position in Tesla, Inc. worth approximately $323,000, purchasing 1,017 shares during the second quarter.
• Multiple institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have significantly increased their stakes in Tesla, indicating strong confidence in the company's future prospects.
• Recent analyst reports have set varying price targets for Tesla, with Benchmark raising its target to $475.00 and Robert W. Baird upgrading their target to $548.00, while maintaining an overall consensus rating of "Hold" with a target of $332.33.

Consolidated Capital Management LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,017 shares of the electric vehicle producer's stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TSLA. Vanguard Group Inc. grew its holdings 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 acquiring an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Tesla by 322.1% during the 1st 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 purchasing an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. increased 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 worth $4,710,218,000 after purchasing an additional 849,091 shares in the last quarter. Amundi lifted its stake in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after buying an additional 2,211,300 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TSLA shares. Benchmark reiterated a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Robert W. Baird upgraded Tesla from a "neutral" rating to an "outperform" rating and raised their target price for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Royal Bank Of Canada reissued a "buy" rating on shares of Tesla in a research note on Friday. The Goldman Sachs Group upped their target price on Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a research report on Thursday, September 18th. Finally, Glj Research reissued a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $332.33.

Tesla Stock Performance

TSLA stock opened at $440.40 on Monday. The business has a 50 day moving average of $352.05 and a 200-day moving average of $315.40. The firm has a market cap of $1.46 trillion, a PE ratio of 254.57, a P/E/G ratio of 15.36 and a beta of 2.06. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. 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 earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on 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 of the company's stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% 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 worth $77,360,462 in the last quarter. 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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