Wellington Shields Capital Management LLC Has $2.02 Million Stock Position in Tesla, Inc. $TSLA

Wellington Shields Capital Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 13.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,353 shares of the electric vehicle producer’s stock after purchasing an additional 750 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Tesla were worth $2,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Tesla by 1.5% in 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 purchasing an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of 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 purchasing an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tesla by 4.9% during the 1st 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 grew its stake 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. increased its holdings in Tesla by 17.6% in the first 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. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. The Goldman Sachs Group decreased their target price on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Dbs Bank upped their price objective on shares of Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 23rd. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Finally, BNP Paribas Exane started coverage on Tesla in a research report on Thursday, October 16th. They set an “underperform” rating and a $307.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $390.27.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last three months. Corporate insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $456.56 on Monday. The business’s 50 day moving average is $410.52 and its 200-day moving average is $348.87. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.52 trillion, a PE ratio of 304.37, a PEG ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.