Tesla, Inc. $TSLA Shares Acquired by Sutton Place Investors LLC

Sutton Place Investors LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,487 shares of the electric vehicle producer's stock after purchasing an additional 620 shares during the quarter. Sutton Place Investors LLC's holdings in Tesla were worth $1,108,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in Tesla by 322.1% in the first 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 purchasing an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in shares of Tesla in the first quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its stake in 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 worth $2,044,683,000 after acquiring an additional 6,435,598 shares in the last quarter. Amundi boosted its holdings in 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 acquiring an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. grew its position in Tesla by 1.5% in 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 acquiring an additional 3,694,524 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Bank of America increased their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Dbs Bank upped their price objective on Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. UBS Group reiterated a "sell" rating and issued a $215.00 price objective on shares of Tesla in a research note on Thursday. Finally, Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $343.43.

Tesla Stock Down 1.4%

TSLA stock opened at $429.83 on Monday. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. The company has a fifty day moving average price of $364.02 and a 200 day moving average price of $322.58. 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 12 month low of $212.11 and a 12 month high of $488.54.

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 (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 business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the previous year, the business posted $0.52 earnings per share. The company's revenue for the quarter was down 11.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,606 shares of company stock valued at $76,188,902 in the last ninety days. Insiders own 19.90% of the company's stock.

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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