Defender Capital LLC. boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,580 shares of the electric vehicle producer's stock after buying an additional 1,950 shares during the quarter. Tesla makes up about 1.5% of Defender Capital LLC.'s portfolio, making the stock its 13th biggest position. Defender Capital LLC.'s holdings in Tesla were worth $4,314,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. NorthRock Partners LLC raised its position in Tesla by 6.0% in the 2nd quarter. NorthRock Partners LLC now owns 59,027 shares of the electric vehicle producer's stock valued at $18,750,000 after buying an additional 3,339 shares during the last quarter. Verdence Capital Advisors LLC raised its position in Tesla by 2.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 16,255 shares of the electric vehicle producer's stock valued at $5,164,000 after buying an additional 453 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Tesla by 20.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 97,926 shares of the electric vehicle producer's stock valued at $31,107,000 after buying an additional 16,613 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Tesla by 0.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 242,256 shares of the electric vehicle producer's stock valued at $76,955,000 after buying an additional 1,805 shares during the last quarter. Finally, Wealth Architects LLC raised its position in Tesla by 3.0% in the 2nd quarter. Wealth Architects LLC now owns 6,017 shares of the electric vehicle producer's stock valued at $1,911,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on TSLA shares. UBS Group set a $247.00 target price on Tesla in a research report on Monday, October 6th. Canaccord Genuity Group upped their price objective on Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. JPMorgan Chase & Co. raised their target price on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Melius Research set a $520.00 target price on shares of Tesla and gave the company a "buy" rating in a research note on Monday. Finally, The Goldman Sachs Group raised their target price on shares of Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $363.03.
Get Our Latest Research Report on TSLA
Insider Transactions at Tesla
In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by company insiders.
Tesla Stock Performance
Shares of NASDAQ TSLA opened at $429.24 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a 50 day moving average of $380.91 and a 200-day moving average of $330.17. The company has a market capitalization of $1.43 trillion, a P/E ratio of 248.12, a P/E/G ratio of 15.71 and a beta of 2.08.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The business's revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.
About Tesla
(
Free Report)
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.
Further Reading
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