Gallacher Capital Management LLC Acquires Shares of 820 Tesla, Inc. $TSLA

Gallacher Capital Management LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 820 shares of the electric vehicle producer's stock, valued at approximately $260,000.

Other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings 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 buying an additional 20,291,139 shares during the last quarter. Nuveen LLC acquired a new stake in Tesla in the first quarter valued at approximately $3,247,619,000. GAMMA Investing LLC grew its position in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. Amundi increased its stake in shares of 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 purchasing an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Tesla by 1.5% during 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. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

NASDAQ:TSLA opened at $410.04 on Tuesday. 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, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a fifty day moving average price of $331.21 and a 200 day moving average price of $304.53. The stock has a market cap of $1.32 trillion, a P/E ratio of 237.02, a PEG ratio of 13.81 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of Tesla 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 sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,606 shares of company stock worth $51,999,662. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. HSBC reissued a "reduce" rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, September 5th. Piper Sandler reissued an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus target price of $303.00.

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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