GDS Wealth Management Raises Stock Position in Tesla, Inc. $TSLA

Key Points

• GDS Wealth Management has increased its stake in Tesla, Inc. by 106.8%, owning 1,487 shares valued at approximately $385,000.
• Several other institutional investors have also raised their positions in Tesla, with 66.20% of the company's stock now owned by hedge funds and institutional investors.
• Analyst ratings for Tesla show a mixed sentiment, with one strong buy and numerous hold and sell ratings, reflecting cautious outlooks on the stock's performance despite a current average target price of $303.31.

GDS Wealth Management lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 106.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,487 shares of the electric vehicle producer's stock after buying an additional 768 shares during the quarter. GDS Wealth Management's holdings in Tesla were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TSLA. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla in the 4th quarter valued at $56,600,000. Means Investment CO. Inc. increased its stake in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after buying an additional 6,323 shares during the period. Focus Financial Network Inc. increased its stake in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after buying an additional 670 shares during the period. IFM Investors Pty Ltd increased its stake in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after buying an additional 46,087 shares during the period. Finally, Keystone Global Partners LLC acquired a new position in Tesla in the 1st quarter valued at $594,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on TSLA. Raymond James Financial cut shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Benchmark reaffirmed a "buy" rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. William Blair cut shares of Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Canaccord Genuity Group upped their price target on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Cantor Fitzgerald lowered their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $303.31.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $329.31 on Wednesday. The stock has a market cap of $1.06 trillion, a price-to-earnings ratio of 190.35, a PEG ratio of 11.65 and a beta of 2.33. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54. The company's 50-day moving average price is $321.01 and its 200 day moving average price is $304.26. 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 (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 599,724 shares of company stock valued at $213,126,501 in the last quarter. Insiders own 20.70% of the company's stock.

Tesla 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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.