Golden State Equity Partners Buys 2,445 Shares of Tesla, Inc. $TSLA

Key Points

• Golden State Equity Partners increased its stake in Tesla by 20.5% during the second quarter, now holding 14,383 shares valued at approximately $4.57 million.
• Several hedge funds also made significant changes to their positions in Tesla, with Means Investment CO. Inc. growing its stake by 37.7% in the first quarter.
• Analysts have mixed views on Tesla, with recent reports adjusting price targets, including a decrease from $390 to $375 from Mizuho, and an increase from $320 to $548 from Robert W. Baird.

Golden State Equity Partners lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,383 shares of the electric vehicle producer's stock after acquiring an additional 2,445 shares during the quarter. Tesla makes up 0.8% of Golden State Equity Partners' holdings, making the stock its 20th biggest holding. Golden State Equity Partners' holdings in Tesla were worth $4,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Means Investment CO. Inc. grew its stake in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. grew its stake in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares during the period. Siren L.L.C. acquired a new stake in Tesla during the first quarter worth approximately $2,332,000. Zuckerman Investment Group LLC grew its stake in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock worth $3,304,000 after purchasing an additional 826 shares during the period. Finally, Keystone Global Partners LLC acquired a new stake in Tesla during the first quarter worth approximately $594,000. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. Mizuho decreased their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $320.00 to $548.00 in a research note on Friday. The Goldman Sachs Group raised their price objective on Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a research note on Thursday, September 18th. HSBC reissued a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. Finally, Benchmark reissued a "buy" rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, Tesla presently has an average rating of "Hold" and an average target price of $324.53.

Tesla Price Performance

Tesla stock opened at $434.21 on Tuesday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The business has a 50-day simple moving average of $343.03 and a 200 day simple moving average of $309.87. 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 stock has a market cap of $1.44 trillion, a price-to-earnings ratio of 250.99, a PEG ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 analysts' expectations of $23.18 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is currently owned by corporate insiders.

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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