Seamount Financial Group Inc. Acquires New Shares in Tesla, Inc. $TSLA

Key Points

• Seamount Financial Group Inc. acquired 1,004 shares of Tesla, Inc. worth approximately $319,000 during the second quarter, signaling institutional interest in TSLA.
• Goldman Sachs Group increased its stake in Tesla by 322.1% in the first quarter, now holding over 26.5 million shares valued at nearly $6.9 billion.
• Tesla's recent performance saw shares trading down 4.4%, with a current market cap of $1.44 trillion and average price targets varying from $350 to $500 from multiple analysts.

Seamount Financial Group Inc. purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,004 shares of the electric vehicle producer's stock, valued at approximately $319,000.

Several other large investors also recently modified their holdings of TSLA. Goldman Sachs Group Inc. boosted its position in shares of 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 worth $6,891,201,000 after buying an additional 20,291,139 shares during the period. Nuveen LLC acquired a new position in Tesla during the first quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its position 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 buying an additional 6,435,598 shares during the last quarter. Amundi lifted its position in shares of Tesla by 29.4% in the first 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 during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Tesla by 1.5% in the first 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 during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. Morgan Stanley reissued an "overweight" rating and set a $410.00 price target on shares of Tesla in a report on Thursday, October 2nd. China Renaissance restated a "hold" rating and set a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Royal Bank Of Canada restated a "buy" rating on shares of Tesla in a research note on Friday, September 26th. Piper Sandler lifted their price target on Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research note on Monday, September 22nd. Finally, Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Two research 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 assigned a Sell rating to the company's stock. According to MarketBeat, Tesla presently has an average rating of "Hold" and an average target price of $344.40.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated 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 of the company's stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla 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 directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Trading Down 4.4%

Shares of TSLA stock opened at $433.09 on Wednesday. The firm has a market capitalization of $1.44 trillion, a P/E ratio of 250.34, a P/E/G ratio of 15.75 and a beta of 2.08. Tesla, Inc. has a twelve month low of $212.11 and a twelve month 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 stock's fifty day simple moving average is $368.81 and its 200 day simple moving average is $324.77.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $22.50 billion for 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 company's revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Profile

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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