Cloud Capital Management LLC Grows Stock Position in Tesla, Inc. $TSLA

Cloud Capital Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 23.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,053 shares of the electric vehicle producer’s stock after purchasing an additional 393 shares during the quarter. Cloud Capital Management LLC’s holdings in Tesla were worth $634,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Bison Wealth LLC lifted its stake in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Tesla by 4.7% during the first quarter. Envestnet Asset Management Inc. now owns 1,267,853 shares of the electric vehicle producer’s stock worth $328,577,000 after purchasing an additional 57,189 shares during the last quarter. Finally, Centennial Bank AR lifted its stake in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $444.26 on Wednesday. The company has a market cap of $1.48 trillion, a P/E ratio of 296.17, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock’s fifty day moving average price is $414.80 and its 200-day moving average price is $351.91.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLA. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a research note on Monday. Truist Financial boosted their target price on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. Finally, Roth Capital set a $505.00 target price on Tesla and gave the stock a “buy” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $391.08.

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.