Tesla, Inc. $TSLA Stake Raised by Principle Wealth Partners LLC

Principle Wealth Partners LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,925 shares of the electric vehicle producer’s stock after buying an additional 3,885 shares during the period. Principle Wealth Partners LLC’s holdings in Tesla were worth $7,282,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in shares of Tesla by 322.1% during 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 acquiring an additional 20,291,139 shares during the period. Nuveen LLC acquired a new position in shares of Tesla during the first quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC increased its stake in shares of Tesla by 581,880.5% during the second 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 acquiring an additional 6,435,598 shares during the period. Amundi increased its stake in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 0.8%

NASDAQ TSLA opened at $438.97 on Thursday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month 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. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.74, a PEG ratio of 15.91 and a beta of 2.08. The firm’s 50 day moving average price is $393.73 and its two-hundred day moving average price is $336.97.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling 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 completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last quarter. Company insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a research note on Monday, October 13th. Dbs Bank lifted their price target on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Bank of America lifted their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. Finally, Melius assumed coverage on shares of Tesla in a research report on Monday, October 13th. They set a “buy” rating and a $520.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $366.73.

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.