Tesla, Inc. $TSLA Stake Lifted by Abel Hall LLC

Key Points

• Abel Hall LLC increased its stake in Tesla by 23.3%, owning 3,989 shares worth approximately $1.27 million, making it the 27th largest position in their portfolio.
• Goldman Sachs experienced a significant 322.1% increase in its Tesla shares, owning now over 26.5 million shares valued at approximately $6.89 billion, indicating strong institutional interest.
• Recent analyst actions saw price targets for Tesla raised, with Canaccord Genuity upping its target from $333 to $490, reflecting positive sentiment toward the stock’s potential.

Abel Hall LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 23.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,989 shares of the electric vehicle producer's stock after acquiring an additional 755 shares during the period. Tesla makes up approximately 0.6% of Abel Hall LLC's investment portfolio, making the stock its 27th biggest position. Abel Hall LLC's holdings in Tesla were worth $1,267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Nuveen LLC acquired a new position in shares of Tesla in the 1st quarter worth approximately $3,247,619,000. Kingstone Capital Partners Texas LLC grew its stake in shares of Tesla by 581,880.5% in 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 purchasing an additional 6,435,598 shares during the last quarter. Amundi grew its stake in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Tesla in a research note on Wednesday. Guggenheim reissued a "sell" rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Finally, Glj Research reissued a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $345.70.

Tesla Trading Up 1.3%

NASDAQ:TSLA opened at $438.69 on Thursday. 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 fifty-two week low of $212.11 and a fifty-two week high of $488.54. The stock's 50-day moving average is $371.20 and its two-hundred day moving average is $325.56. The stock has a market cap of $1.46 trillion, a PE ratio of 253.58, a price-to-earnings-growth ratio of 15.92 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 analysts' expectations of $23.18 billion. During the same period last year, the firm earned $0.52 EPS. The company's revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, 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 transaction of $42,034,800.00. Following the completion of the sale, 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 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 have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last 90 days. 19.90% of the stock is currently owned by corporate insiders.

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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