Sylvest Advisors LLC Invests $427,000 in Tesla, Inc. $TSLA

Sylvest Advisors LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 1,344 shares of the electric vehicle producer’s stock, valued at approximately $427,000.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Tesla by 322.1% in the first 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after buying an additional 849,091 shares during the last quarter. Amundi boosted its holdings 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 valued at $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock worth $3,832,047,000 after buying an additional 2,211,300 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on 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 directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 in the last ninety days. Insiders own 19.90% of the company’s stock.

Tesla Stock Down 4.4%

Shares of TSLA stock opened at $423.39 on Friday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.41 trillion, a PE ratio of 244.73, a P/E/G ratio of 15.45 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock’s 50-day simple moving average is $349.83 and its 200-day simple moving average is $312.97.

Tesla (NASDAQ:TSLA) last issued its 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 EPS. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on TSLA shares. Glj Research reissued a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Wedbush reissued an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research report on Monday, September 15th. The Goldman Sachs Group boosted their target price on Tesla from $300.00 to $395.00 and gave the stock a “neutral” rating in a research note on Thursday, September 18th. Benchmark reiterated a “buy” rating and issued a $475.00 price target (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Canaccord Genuity Group raised their price target on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $326.74.

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.