Tesla, Inc. $TSLA Shares Bought by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC increased its stake in Tesla, Inc. by 581,880.5% during the second quarter, owning approximately 6.4 million shares valued at over $2 billion.
• Analysts have adjusted Tesla's price targets, with Dbs Bank raising it from $300 to $450 and Goldman Sachs increasing theirs from $300 to $395, indicating growing optimism in the stock.
• Tesla's most recent earnings report showed an 11.8% decline in revenue year-over-year, with $22.50 billion reported compared to analyst expectations of $23.18 billion.

Kingstone Capital Partners Texas LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 581,880.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,436,704 shares of the electric vehicle producer's stock after acquiring an additional 6,435,598 shares during the quarter. Kingstone Capital Partners Texas LLC owned about 0.20% of Tesla worth $2,044,683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC increased its stake in shares of Tesla by 86.3% during the 1st 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 lifted its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC lifted its stake in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla during the first quarter worth $27,000. Finally, Chelsea Counsel Co. lifted its stake in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TSLA shares. Dbs Bank lifted their price target on Tesla from $300.00 to $450.00 in a research note on Wednesday. Wedbush reissued an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research note on Monday, September 15th. The Goldman Sachs Group lifted their price target on Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a research note on Thursday. Piper Sandler reissued an "overweight" rating and issued a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Finally, HSBC reissued a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $317.70.

Tesla Trading Up 2.2%

Shares of NASDAQ TSLA opened at $426.07 on Friday. 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 $1.42 trillion, a PE ratio of 246.28, a PEG ratio of 14.54 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $340.68 and a two-hundred day moving average price of $308.15.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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 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 analyst estimates of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. The company's revenue was down 11.8% compared to the same quarter last year. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated 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 sale, the senior vice president owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 in the last three months. 20.70% of the stock is owned by insiders.

About Tesla

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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