ZEGA Investments LLC Has $8.46 Million Stock Holdings in Tesla, Inc. $TSLA

ZEGA Investments LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 44.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,632 shares of the electric vehicle producer’s stock after buying an additional 8,217 shares during the period. Tesla accounts for 1.2% of ZEGA Investments LLC’s holdings, making the stock its 12th largest holding. ZEGA Investments LLC’s holdings in Tesla were worth $8,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Siren L.L.C. bought a new position in shares of Tesla during the first quarter worth about $2,332,000. Zuckerman Investment Group LLC increased its position in Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares during the period. Keystone Global Partners LLC bought a new position in Tesla during the 1st quarter worth approximately $594,000. Strs Ohio acquired a new position in shares of Tesla in the 1st quarter worth approximately $205,495,000. Finally, AustralianSuper Pty Ltd boosted its stake in shares of Tesla by 1,823.0% in the 2nd quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock valued at $21,704,000 after purchasing an additional 64,772 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 3.7%

TSLA stock opened at $429.52 on Friday. The stock’s 50 day simple moving average is $420.97 and its 200 day simple moving average is $354.73. The company has a market cap of $1.43 trillion, a P/E ratio of 286.35, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. Tesla’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last 90 days. Insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Evercore ISI lifted their target price on shares of Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Stifel Nicolaus set a $483.00 price objective on Tesla and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. Roth Capital set a $505.00 target price on Tesla and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, William Blair reissued a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eleven have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.