Deltec Asset Management LLC Purchases 3,985 Shares of Tesla, Inc. $TSLA

Deltec Asset Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,985 shares of the electric vehicle producer's stock after buying an additional 3,985 shares during the quarter. Tesla accounts for 0.9% of Deltec Asset Management LLC's portfolio, making the stock its 28th largest position. Deltec Asset Management LLC's holdings in Tesla were worth $5,078,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. lifted its position in Tesla by 322.1% in the 1st 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 bought a new stake in Tesla in the 1st quarter worth approximately $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its position in Tesla by 581,880.5% in 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 last quarter. Amundi lifted its position 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 purchasing an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Tesla by 1.5% in 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 last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's 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 in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock valued at $77,360,462 over the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of TSLA stock opened at $436.00 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business's fifty day moving average is $361.74 and its 200 day moving average is $319.98. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a market cap of $1.45 trillion, a price-to-earnings ratio of 252.02, a PEG ratio of 15.97 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the firm posted $0.52 earnings per share. The company's revenue was down 11.8% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TSLA shares. Canaccord Genuity Group boosted their price objective on Tesla from $333.00 to $490.00 and gave the company a "buy" rating in a research report on Tuesday. Stifel Nicolaus set a $440.00 price objective on Tesla in a research report on Friday, September 5th. Bank of America boosted their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $341.46.

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.

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