Phoenix Financial Ltd. Increases Stake in Tesla, Inc. $TSLA

Key Points

• Phoenix Financial Ltd. increased its stake in Tesla, Inc. by 14.5%, acquiring an additional 8,632 shares in the second quarter, bringing its total holdings to 68,090 shares valued at approximately $21.7 million.
• Major institutional investors have also significantly increased their positions in Tesla, with Goldman Sachs raising their stake by 322.1% and valuing their holdings at nearly $6.9 billion.
• Analysts have varied opinions on Tesla's stock performance; while some raised their price targets, others continue to advise caution, resulting in a consensus rating of "Hold" and an average price target of $363.54.

Phoenix Financial Ltd. grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,090 shares of the electric vehicle producer's stock after acquiring an additional 8,632 shares during the quarter. Phoenix Financial Ltd.'s holdings in Tesla were worth $21,653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Goldman Sachs Group Inc. raised its stake in shares of Tesla by 322.1% in 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 acquiring an additional 20,291,139 shares during the period. Nuveen LLC purchased a new stake in shares of Tesla in the first quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC raised its stake in shares of 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 valued at $2,044,683,000 after acquiring an additional 6,435,598 shares during the period. Amundi lifted its holdings 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 buying an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 buying an additional 3,694,524 shares in 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 brokerages recently weighed in on TSLA. Evercore ISI lifted their price objective on shares of Tesla from $235.00 to $300.00 and gave the company an "in-line" rating in a report on Monday, October 13th. Piper Sandler lifted their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a report on Monday, September 22nd. Guggenheim reiterated a "sell" rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Barclays reiterated a "negative" rating and set a $350.00 price objective (up previously from $275.00) on shares of Tesla in a report on Thursday. Finally, The Goldman Sachs Group lifted their price objective on shares of Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $363.54.

Tesla Stock Up 1.8%

NASDAQ:TSLA opened at $447.43 on Tuesday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The stock has a market capitalization of $1.49 trillion, a P/E ratio of 258.63, a P/E/G ratio of 15.79 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 company's 50-day simple moving average is $389.71 and its 200-day simple moving average is $335.51.

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 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 during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. The firm's quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company's stock.

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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