Ingalls & Snyder LLC Grows Position in Tesla, Inc. $TSLA

Ingalls & Snyder LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 153.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,709 shares of the electric vehicle producer’s stock after purchasing an additional 2,848 shares during the quarter. Ingalls & Snyder LLC’s holdings in Tesla were worth $1,496,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of 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 buying an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new stake in Tesla in the 1st quarter worth $3,247,619,000. Kingstone Capital Partners Texas LLC raised its position in 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 worth $2,044,683,000 after acquiring an additional 6,435,598 shares during the period. Amundi lifted 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 valued at $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Tesla by 1.5% in 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 purchasing an additional 3,694,524 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 3.4%

Shares of NASDAQ:TSLA opened at $433.72 on Monday. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The stock has a market cap of $1.44 trillion, a P/E ratio of 289.15, a PEG ratio of 15.45 and a beta of 2.08. The business has a fifty day moving average of $398.06 and a two-hundred day moving average of $341.21. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its quarterly 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. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’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 completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 in the last 90 days. Insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of a number of research reports. TD Cowen raised their price target on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Truist Financial raised their target price on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research report on Thursday. Wedbush reiterated an “outperform” rating and set a $600.00 price target on shares of Tesla in a research report on Monday, October 20th. New Street Research increased their price objective on Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research note on Thursday. Finally, HSBC lifted their target price on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $381.00.

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.