Rodgers & Associates LTD acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 714 shares of the electric vehicle producer's stock, valued at approximately $227,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. increased its position in 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 bought a new stake in shares of Tesla in the 1st quarter worth $3,247,619,000. Kingstone Capital Partners Texas LLC increased its holdings 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 in the last quarter. Amundi increased its holdings 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 in the last quarter. Finally, Vanguard Group Inc. increased its holdings 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 in the last quarter. Institutional investors own 66.20% of the company's stock.
Insider Activity 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, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction 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 in the company, valued at $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. Over the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on TSLA. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Benchmark reissued a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Canaccord Genuity Group lifted their target price on Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. BNP Paribas Exane began coverage on Tesla in a report on Thursday. They issued an "underperform" rating and a $307.00 target price for the company. Finally, Evercore ISI lifted their target price on Tesla from $235.00 to $300.00 and gave the stock an "in-line" rating in a report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $363.54.
Read Our Latest Analysis on TSLA
Tesla Stock Performance
Shares of TSLA opened at $439.31 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 253.94, a PEG ratio of 15.41 and a beta of 2.08. The business has a fifty day moving average of $387.54 and a 200 day moving average of $333.25.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.
About Tesla
(
Free Report)
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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