Relyea Zuckerberg Hanson LLC Grows Position in Tesla, Inc. $TSLA

Relyea Zuckerberg Hanson LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,535 shares of the electric vehicle producer's stock after purchasing an additional 1,332 shares during the period. Relyea Zuckerberg Hanson LLC's holdings in Tesla were worth $2,076,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in shares of Tesla by 322.1% during the 1st 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 in the last quarter. Nuveen LLC purchased a new position in shares of Tesla during the 1st quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its position in shares of Tesla by 581,880.5% during the 2nd 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 buying an additional 6,435,598 shares in the last quarter. Amundi lifted its position in shares of 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 position in shares of 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TSLA shares. The Goldman Sachs Group increased their target price on Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. Glj Research reissued a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Guggenheim reissued a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Bank of America increased their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, HSBC increased their price objective on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average price target of $344.40.

Tesla Stock Down 4.4%

NASDAQ TSLA opened at $433.09 on Wednesday. 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. The business's fifty day simple moving average is $368.81 and its 200-day simple moving average is $324.77. The firm has a market cap of $1.44 trillion, a PE ratio of 250.34, a P/E/G ratio of 15.75 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly 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 company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm's revenue was down 11.8% on a year-over-year basis. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction 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 SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was 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 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 currently 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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