Union Bancaire Privee UBP SA Raises Stake in Tesla, Inc. $TSLA

Union Bancaire Privee UBP SA boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 78.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,732 shares of the electric vehicle producer’s stock after buying an additional 4,286 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Tesla were worth $2,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. KWB Wealth raised its holdings in shares of Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after acquiring an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. raised its holdings in Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after purchasing an additional 34 shares in the last quarter. Guyasuta Investment Advisors Inc. raised its holdings in Tesla by 0.7% in the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after purchasing an additional 34 shares in the last quarter. Kelly Financial Services LLC raised its holdings in Tesla by 2.7% in the second quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer’s stock worth $423,000 after purchasing an additional 35 shares in the last quarter. Finally, Acorn Wealth Advisors LLC raised its holdings in Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Piper Sandler increased their price objective on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. HSBC increased their price objective on Tesla from $120.00 to $127.00 in a report on Monday. Wedbush increased their price objective on Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Finally, UBS Group restated a “sell” rating on shares of Tesla in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $337.15.

Tesla Trading Up 3.3%

Tesla stock opened at $459.46 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 one year low of $212.11 and a one year high of $488.54. The stock has a market capitalization of $1.53 trillion, a PE ratio of 265.58, a price-to-earnings-growth ratio of 15.46 and a beta of 2.08. The business’s fifty day moving average is $359.13 and its 200 day moving average is $318.62.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS 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 business earned $0.52 earnings per share. The company’s quarterly revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s 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 completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% 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 over the last ninety days. Insiders own 19.90% of the company’s stock.

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.