Signaturefd LLC Buys 4,494 Shares of Tesla, Inc. $TSLA

Key Points

• Signaturefd LLC increased its stake in Tesla by 4.5%, acquiring an additional 4,494 shares, bringing its total holdings to 104,494 shares valued at approximately $33.2 million.
• In recent quarters, several large investors have significantly increased their positions in Tesla, including Cherry Tree Wealth Management, which raised its stake by 86.3%.
• Despite these increases in holdings, UBS Group issued a "sell" rating while Canaccord Genuity raised its target price for Tesla from $303 to $333, indicating differing views on the stock's performance.

Signaturefd LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,494 shares of the electric vehicle producer's stock after purchasing an additional 4,494 shares during the quarter. Tesla makes up about 0.6% of Signaturefd LLC's investment portfolio, making the stock its 26th biggest holding. Signaturefd LLC's holdings in Tesla were worth $33,193,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC lifted its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank increased its holdings in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC boosted its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the 1st quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. boosted its position in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. UBS Group restated a "sell" rating on shares of Tesla in a research report on Monday, September 22nd. Royal Bank Of Canada restated a "buy" rating on shares of Tesla in a research note on Friday. Canaccord Genuity Group upped their target price on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, CICC Research boosted their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a report on Thursday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $332.33.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. The trade was a 40.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated 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 completion of the sale, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is currently owned by company insiders.

Tesla Trading Up 4.0%

Shares of TSLA opened at $440.40 on Friday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year 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's 50 day simple moving average is $352.05 and its 200 day simple moving average is $314.88. The company has a market capitalization of $1.46 trillion, a P/E ratio of 254.57, a P/E/G ratio of 15.36 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The firm's revenue was down 11.8% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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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