Traction Financial Partners LLC Purchases New Position in Tesla, Inc. $TSLA

Key Points

• Traction Financial Partners LLC has acquired a new position in Tesla, purchasing 754 shares valued at approximately $240,000.
• Institutional investors currently own 66.20% of Tesla's stock, with notable increases in positions from firms like Goldman Sachs and GAMMA Investing.
• In the last 90 days, insiders sold a total of 208,606 shares of Tesla, with significant transactions by SVP Xiaotong Zhu and CFO Vaibhav Taneja, indicating a decrease in their positions.

Traction Financial Partners LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 754 shares of the electric vehicle producer's stock, valued at approximately $240,000.

Several other hedge funds have also added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. boosted its position in Tesla by 322.1% during 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 buying an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in Tesla during the 1st quarter worth approximately $3,247,619,000. GAMMA Investing LLC boosted its position in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after buying an additional 9,776,607 shares during the period. Kingstone Capital Partners Texas LLC boosted its position 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 buying an additional 6,435,598 shares during the period. Finally, Amundi boosted its position in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were 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 approximately $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $442.79 on Thursday. The firm has a market capitalization of $1.47 trillion, a PE ratio of 255.95, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The firm has a fifty day simple moving average of $347.75 and a two-hundred day simple moving average of $311.58. 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.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 EPS. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. Mizuho boosted their price target on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research report on Tuesday. UBS Group reiterated a "sell" rating on shares of Tesla in a research report on Monday. Piper Sandler boosted their target price on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday. Glj Research reiterated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Stifel Nicolaus set a $440.00 target price on shares of Tesla in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $326.74.

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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