Tesla, Inc. $TSLA Shares Acquired by Galvin Gaustad & Stein LLC

Key Points

• Galvin Gaustad & Stein LLC increased its holdings in Tesla by 106% in the second quarter, owning 1,710 shares valued at $543,000.
• Institutional investors and hedge funds now hold 66.20% of Tesla's stock, with several firms making significant stakes, such as Goldman Sachs increasing its position by 322.1%.
• Tesla's recent earnings report showed an EPS of $0.40, which missed analysts' expectations, and the company experienced a 11.8% revenue decline compared to the previous year.

Galvin Gaustad & Stein LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 106.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,710 shares of the electric vehicle producer's stock after buying an additional 880 shares during the period. Galvin Gaustad & Stein LLC's holdings in Tesla were worth $543,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TSLA. Goldman Sachs Group Inc. boosted its stake 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 stake in Tesla in the first quarter valued at about $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its position in 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 purchasing an additional 6,435,598 shares during the period. Amundi lifted its position in 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 purchasing an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. lifted its position in 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 purchasing an additional 3,694,524 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $355.00 price objective on shares of Tesla in a research report on Friday, October 3rd. The Goldman Sachs Group raised their price objective on shares of Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. Glj Research restated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, TD Cowen raised their price objective on shares of Tesla from $374.00 to $509.00 and gave the company a "buy" rating in a research report on Thursday. Two 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 MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $354.67.

Tesla Trading Down 5.1%

Shares of Tesla stock opened at $413.49 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The stock has a market cap of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 15.01 and a beta of 2.08. The company has a 50-day moving average of $375.97 and a two-hundred day moving average of $327.89.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company's stock.

Tesla Company 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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