LPL Financial LLC raised its position in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 466,721 shares of the electric vehicle producer's stock after acquiring an additional 8,621 shares during the quarter. LPL Financial LLC's holdings in Tesla were worth $314,299,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. Natixis Investment Managers International grew its position in shares of Tesla by 32.3% during the second quarter. Natixis Investment Managers International now owns 9,989 shares of the electric vehicle producer's stock worth $6,726,000 after buying an additional 2,436 shares in the last quarter. Ossiam grew its position in shares of Tesla by 8.2% during the second quarter. Ossiam now owns 212,331 shares of the electric vehicle producer's stock worth $142,988,000 after buying an additional 16,161 shares in the last quarter. Mirova grew its position in shares of Tesla by 38.4% during the second quarter. Mirova now owns 6,466 shares of the electric vehicle producer's stock worth $4,354,000 after buying an additional 1,793 shares in the last quarter. Seeyond grew its position in shares of Tesla by 17.9% during the second quarter. Seeyond now owns 4,651 shares of the electric vehicle producer's stock worth $3,132,000 after buying an additional 706 shares in the last quarter. Finally, Strategic Blueprint LLC grew its position in shares of Tesla by 18.3% during the second quarter. Strategic Blueprint LLC now owns 7,876 shares of the electric vehicle producer's stock worth $5,304,000 after buying an additional 1,221 shares in the last quarter. Institutional investors and hedge funds own 43.01% of the company's stock.
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In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of Tesla stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $300.59, for a total transaction of $1,127,212.50. Following the transaction, the chief financial officer now owns 192,777 shares of the company's stock, valued at approximately $57,946,838.43. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Zachary Kirkhorn sold 3,750 shares of Tesla stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $300.59, for a total transaction of $1,127,212.50. Following the completion of the sale, the chief financial officer now directly owns 192,777 shares in the company, valued at approximately $57,946,838.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Elon Musk sold 4,400,000 shares of Tesla stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $191.63, for a total value of $843,172,000.00. Following the sale, the chief executive officer now owns 445,617,432 shares of the company's stock, valued at $85,393,668,494.16. The disclosure for this sale can be found here. Insiders have sold a total of 14,119,001 shares of company stock valued at $2,874,560,178 in the last 90 days. 25.10% of the stock is currently owned by corporate insiders.
Tesla Trading Down 0.2 %
TSLA traded down $0.34 during trading on Friday, reaching $182.86. The company had a trading volume of 50,672,739 shares, compared to its average volume of 83,993,040. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.46. Tesla, Inc. has a 12-month low of $166.18 and a 12-month high of $402.67. The firm's 50-day simple moving average is $226.48 and its 200 day simple moving average is $248.42. The company has a market cap of $577.43 billion, a price-to-earnings ratio of 56.50, a PEG ratio of 1.62 and a beta of 1.97.Tesla (NASDAQ:TSLA – Get Rating) last released its earnings results on Wednesday, October 19th. The electric vehicle producer reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.14. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The company had revenue of $21.45 billion for the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the previous year, the business posted $0.48 EPS. The business's revenue for the quarter was up 55.9% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 3.61 earnings per share for the current year.
Analyst Ratings Changes
TSLA has been the subject of a number of research reports. Cowen decreased their price objective on shares of Tesla from $244.00 to $205.00 and set a "market perform" rating for the company in a report on Thursday, October 20th. Needham & Company LLC raised shares of Tesla from an "underperform" rating to a "hold" rating in a report on Thursday, September 15th. Canaccord Genuity Group lifted their price objective on shares of Tesla from $271.67 to $293.67 and gave the stock a "buy" rating in a report on Monday, August 8th. Loop Capital lifted their price objective on shares of Tesla to $33.33 in a report on Monday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Tesla from $390.00 to $355.00 and set a "buy" rating for the company in a report on Thursday, October 20th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $278.43.
About Tesla
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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.
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