Tesla, Inc. $TSLA Stake Lifted by Viewpoint Capital Management LLC

Viewpoint Capital Management LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,613 shares of the electric vehicle producer’s stock after purchasing an additional 176 shares during the quarter. Tesla comprises about 2.9% of Viewpoint Capital Management LLC’s portfolio, making the stock its 7th biggest position. Viewpoint Capital Management LLC’s holdings in Tesla were worth $5,912,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. boosted its position in Tesla by 322.1% during the 1st 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 in the last quarter. Nuveen LLC bought a new stake in Tesla during the 1st quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC boosted its position in Tesla by 581,880.5% during the 2nd 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 in the last quarter. Amundi boosted its position in Tesla by 29.4% during the 1st 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 in the last quarter. Finally, Vanguard Group Inc. boosted its position in Tesla by 1.5% during the 1st 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 in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 transaction, the chief financial officer owned 9,856 shares of the company’s stock, 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. In the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA opened at $433.09 on Wednesday. The stock has a 50-day moving average of $368.81 and a two-hundred day moving average of $324.77. Tesla, Inc. has a one year low of $212.11 and a one year 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 $1.44 trillion, a P/E ratio of 250.34, a P/E/G ratio of 15.75 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the firm posted $0.52 EPS. The business’s revenue was down 11.8% compared to the same quarter last year. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on TSLA shares. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and increased their target price for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Deutsche Bank Aktiengesellschaft raised their price objective on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Benchmark reissued a “buy” rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a research report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $344.40.

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.