Tesla, Inc. $TSLA Shares Bought by Genesee Capital Advisors LLC

Genesee Capital Advisors LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 4,682 shares of the electric vehicle producer’s stock after acquiring an additional 270 shares during the quarter. Genesee Capital Advisors LLC’s holdings in Tesla were worth $1,487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. lifted 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 acquiring an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in Tesla during the 1st quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after buying an additional 6,435,598 shares during the period. Amundi lifted 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 during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Royal Bank Of Canada boosted their price objective on Tesla from $325.00 to $500.00 and gave the company an “outperform” rating in a report on Friday. TD Cowen boosted their price objective on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Finally, Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $363.03.

Tesla Price Performance

NASDAQ:TSLA opened at $435.90 on Tuesday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a 50 day moving average of $378.50 and a two-hundred day moving average of $329.48. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.45 trillion, a P/E ratio of 251.97, a price-to-earnings-growth ratio of 14.92 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. On average, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.