Invictus Private Wealth LLC Trims Stake in Tesla, Inc. $TSLA

Key Points

• Invictus Private Wealth LLC reduced its stake in Tesla by 51.6% during the second quarter, now holding 1,039 shares valued at approximately $330,000.
• Institutional investors collectively own 66.20% of Tesla, with notable increases in positions by firms like Goldman Sachs, which grew its stake by 322.1%.
• Tesla stock currently has an average rating of "Hold" among analysts, with a consensus price target of $354.67.

Invictus Private Wealth LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 51.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,039 shares of the electric vehicle producer's stock after selling 1,106 shares during the quarter. Invictus Private Wealth LLC's holdings in Tesla were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in shares of 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 period. Nuveen LLC purchased a new stake in Tesla in the first quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC grew its holdings 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 worth $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Amundi grew its position in Tesla by 29.4% during the 1st 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. grew its position in 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 during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. China Renaissance reiterated a "hold" rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Cantor Fitzgerald reiterated an "overweight" rating and set a $355.00 target price on shares of Tesla in a research note on Friday, October 3rd. Piper Sandler increased their target price on Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research note on Monday, September 22nd. Wedbush increased their price objective on Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a research report on Friday, September 26th. Finally, Canaccord Genuity Group increased their price objective on Tesla from $333.00 to $490.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, Tesla currently has an average rating of "Hold" and a consensus price target of $354.67.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The shares were 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 in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last 90 days. 19.90% of the stock is currently owned by insiders.

Tesla Trading Down 5.1%

Shares of NASDAQ:TSLA opened at $413.49 on Monday. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 239.01, a PEG ratio of 14.92 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock's 50-day simple moving average is $375.97 and its two-hundred day simple moving average is $328.28. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

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

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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