Tesla, Inc. $TSLA Shares Acquired by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its stake in Tesla by 2.0%, holding 743,694 shares valued at approximately $192.74 million, representing 1.0% of its portfolio.
• Institutional investors have significantly increased their investment in Tesla, with Goldman Sachs boosting its holdings by 322.1% and Vanguard Group increasing its shares by 1.5% in the first quarter.
• Analysts have a mixed outlook for Tesla, with a consensus rating of "Hold" and a range of price targets, including prices as low as $120.00 and as high as $320.00.

Panagora Asset Management Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 743,694 shares of the electric vehicle producer's stock after purchasing an additional 14,466 shares during the quarter. Tesla accounts for approximately 1.0% of Panagora Asset Management Inc.'s investment portfolio, making the stock its 18th largest holding. Panagora Asset Management Inc.'s holdings in Tesla were worth $192,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Acorn Wealth Advisors LLC grew its stake in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after purchasing an additional 36 shares during the last quarter. Solutions 4 Wealth Ltd raised its holdings in Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after purchasing an additional 36 shares during the last quarter. Capital Management Associates Inc raised its holdings in Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after purchasing an additional 38 shares during the last quarter. Graney & King LLC raised its holdings in Tesla by 18.4% during the first quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock worth $63,000 after purchasing an additional 38 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. raised its holdings in Tesla by 3.8% during the first quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer's stock worth $278,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TSLA shares. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. Morgan Stanley reissued an "overweight" rating and issued a $410.00 price target on shares of Tesla in a report on Friday, June 6th. Piper Sandler reissued an "overweight" rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Glj Research reissued a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Canaccord Genuity Group lifted their price objective on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have issued a Hold rating and nine have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $303.31.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% 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 the business'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 transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,564 shares of company stock worth $51,792,190 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Down 3.5%

TSLA stock traded down $12.11 during trading on Friday, reaching $333.87. 80,898,652 shares of the stock traded hands, compared to its average volume of 75,712,112. The business's 50 day moving average price is $323.59 and its 200-day moving average price is $302.54. Tesla, Inc. has a 52-week low of $205.97 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market capitalization of $1.08 trillion, a PE ratio of 192.99, a P/E/G ratio of 11.61 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period last year, the firm posted $0.52 EPS. Tesla's revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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.