Tesla, Inc. $TSLA Stake Raised by GAMMA Investing LLC

Key Points

• GAMMA Investing LLC increased its stake in Tesla, Inc. by 26.9% during the 2nd quarter, holding 48,056 shares valued at $15,265,000.
• Tesla's recent earnings report revealed a net margin of 6.54% and revenue of $22.50 billion, which was below analyst expectations.
• As of now, 66.20% of Tesla's stock is owned by institutional investors, with multiple firms reporting significant increases in their holdings during the last quarter.

GAMMA Investing LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,056 shares of the electric vehicle producer's stock after acquiring an additional 10,194 shares during the quarter. Tesla comprises about 1.0% of GAMMA Investing LLC's investment portfolio, making the stock its 12th biggest holding. GAMMA Investing LLC's holdings in Tesla were worth $15,265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its stake in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in Tesla during the 4th quarter valued at about $346,000. Bison Wealth LLC grew its stake in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after acquiring an additional 3,558 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in Tesla by 53.8% during the 4th quarter. Mackenzie Financial Corp now owns 429,860 shares of the electric vehicle producer's stock valued at $173,595,000 after acquiring an additional 150,438 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Shares of TSLA opened at $426.07 on Monday. The stock has a market cap of $1.42 trillion, a PE ratio of 246.28, a PEG ratio of 14.86 and a beta of 2.06. The business has a 50-day simple moving average of $340.68 and a two-hundred day simple moving average of $308.67. The company has a quick ratio of 1.55, a current ratio of 2.04 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.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly 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 company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the company posted $0.52 EPS. The company's quarterly revenue was down 11.8% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm'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 value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade 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 hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on 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 sale, the chief financial officer owned 5,924 shares in the company, valued at $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,606 shares of company stock worth $77,360,462. Corporate insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TSLA. Morgan Stanley reissued an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, September 5th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Argus restated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Dbs Bank boosted their target price on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Finally, Bank of America boosted their price target on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $317.70.

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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