Means Investment CO. Inc. Increases Stock Position in Tesla, Inc. $TSLA

Key Points

• Means Investment CO. Inc. increased its stake in Tesla by 14.6% in the 2nd quarter, acquiring a total of 26,452 shares valued at approximately $8.4 million.
• Goldman Sachs Group Inc. significantly boosted its position in Tesla, expanding its shareholding by 322.1% during the first quarter, resulting in a total of 26.59 million shares worth about $6.89 billion.
• Analysts have mixed opinions on Tesla, with a consensus average rating of "Hold" and a target price around $354.67, although some firms set higher price targets such as $509.

Means Investment CO. Inc. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,452 shares of the electric vehicle producer's stock after buying an additional 3,363 shares during the quarter. Tesla comprises approximately 0.8% of Means Investment CO. Inc.'s portfolio, making the stock its 22nd biggest position. Means Investment CO. Inc.'s holdings in Tesla were worth $8,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. lifted its position in Tesla by 322.1% during the first 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 period. Nuveen LLC purchased a new position in shares of Tesla in the 1st quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC raised its position in shares of Tesla by 581,880.5% in the 2nd 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 last quarter. Amundi raised its position in shares of Tesla by 29.4% in 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 position in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $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.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TSLA shares. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tesla in a research report on Wednesday, October 8th. Stifel Nicolaus set a $483.00 target price on Tesla and gave the stock a "buy" rating in a research report on Wednesday. TD Cowen boosted their target price on Tesla from $374.00 to $509.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $354.67.

Tesla Trading Down 5.1%

Tesla stock opened at $413.49 on Monday. The business has a 50-day simple moving average of $375.97 and a two-hundred day simple moving average of $328.28. The company has a market cap of $1.37 trillion, a P/E ratio of 239.01, a P/E/G ratio of 14.92 and a beta of 2.08. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm 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 company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction that occurred 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 owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by company 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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