Alta Capital Management LLC Purchases Shares of 1,397 Tesla, Inc. $TSLA

Alta Capital Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the second quarter, Holdings Channel reports. The institutional investor purchased 1,397 shares of the electric vehicle producer’s stock, valued at approximately $444,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. lifted its holdings in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Nuveen LLC acquired a new stake in Tesla during the 1st quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC raised its holdings 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. Amundi raised its holdings 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. Finally, Vanguard Group Inc. raised its holdings in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 1.5%

Shares of NASDAQ TSLA opened at $428.75 on Friday. The stock has a market cap of $1.43 trillion, a PE ratio of 247.83, a PEG ratio of 15.64 and a beta of 2.08. The business has a fifty day moving average of $385.34 and a two-hundred day moving average of $332.07. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 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 firm’s revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TSLA shares. BNP Paribas Exane started coverage on Tesla in a report on Thursday. They set an “underperform” rating and a $307.00 price objective on the stock. Dbs Bank increased their price objective on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Bank of America increased their price target on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a report on Wednesday. Finally, China Renaissance reissued a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $363.54.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of Tesla 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 completion of the sale, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate insiders.

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.