Sigma Investment Counselors Inc. Increases Holdings in Tesla, Inc. $TSLA

Sigma Investment Counselors Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,642 shares of the electric vehicle producer’s stock after purchasing an additional 345 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Tesla were worth $1,792,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. boosted 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 valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Nuveen LLC acquired a new position in shares of Tesla in the 1st quarter valued at about $3,247,619,000. Kingstone Capital Partners Texas LLC boosted its stake in shares of Tesla by 581,880.5% in the second 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 last quarter. Amundi grew its holdings in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. grew its holdings 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 worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. TD Cowen upped their price objective on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Guggenheim reiterated a “sell” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. CICC Research increased their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a report on Monday, October 13th. Finally, Wedbush upped their price objective on shares of Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $363.54.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last ninety days. Insiders own 19.90% of the company’s stock.

Tesla Stock Up 2.5%

Shares of NASDAQ TSLA opened at $439.31 on Friday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company’s 50-day simple moving average is $387.54 and its 200-day simple moving average is $333.60. The firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.94, a price-to-earnings-growth ratio of 15.79 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 2.56 EPS 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.