Waterloo Capital L.P. Purchases 1,728 Shares of Tesla, Inc. $TSLA

Key Points

• Waterloo Capital L.P. boosted its Tesla stake by 13.5% in Q2, buying 1,728 shares to bring its holding to 14,485 shares valued at about $4.601 million.
• Large insider sales were reported: SVP Xiaotong Zhu sold 20,000 shares (~$363.75 each) and director James R. Murdoch sold 60,000 shares (~$422.68 each); insiders sold 202,606 shares (~$75.6 million) over the past 90 days and now own 19.9% of the stock.
• Analyst and valuation snapshot: the consensus rating is "Hold" with a $394.31 target; Tesla's market cap is about $1.30 trillion, P/E ~260.7, and the stock trades near $391 with a 52-week range of $214.25–$488.54.

Waterloo Capital L.P. increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,485 shares of the electric vehicle producer's stock after purchasing an additional 1,728 shares during the quarter. Waterloo Capital L.P.'s holdings in Tesla were worth $4,601,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chelsea Counsel Co. increased its stake in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 40 shares in the last quarter. LGT Financial Advisors LLC bought a new position in shares of Tesla during the second quarter valued at approximately $29,000. Evergreen Private Wealth LLC lifted its holdings in shares of Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer's stock valued at $35,000 after purchasing an additional 81 shares during the last quarter. Glynn Capital Management LLC bought a new stake in shares of Tesla in the 2nd quarter worth approximately $35,000. Finally, LSV Asset Management grew its stake in shares of Tesla by 400.0% in the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer's stock worth $38,000 after buying an additional 96 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company's stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Canaccord Genuity Group lowered their price objective on Tesla from $490.00 to $482.00 and set a "buy" rating for the company in a research note on Thursday, October 23rd. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Wednesday, October 22nd. CICC Research upped their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. Roth Capital set a $505.00 price objective on shares of Tesla and gave the company a "buy" rating in a research note on Thursday, October 23rd. Finally, UBS Group reiterated a "sell" rating on shares of Tesla in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $394.31.

Tesla Stock Performance

Shares of TSLA stock opened at $391.09 on Friday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $433.55 and a 200-day moving average price of $364.93. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The firm has a market capitalization of $1.30 trillion, a PE ratio of 260.73, a P/E/G ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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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