SLT Holdings LLC Increases Position in Tesla, Inc. $TSLA

SLT Holdings LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 35.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,586 shares of the electric vehicle producer’s stock after purchasing an additional 2,252 shares during the quarter. Tesla makes up approximately 2.1% of SLT Holdings LLC’s holdings, making the stock its 11th largest position. SLT Holdings LLC’s holdings in Tesla were worth $2,727,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank increased its stake in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla in the first quarter valued at approximately $27,000. Newton One Investments LLC grew its position in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $413.49 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The firm has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a P/E/G ratio of 14.92 and a beta of 2.08. The stock’s 50 day moving average is $375.97 and its two-hundred day moving average is $328.28.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on TSLA shares. TD Cowen raised their price objective on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday. HSBC raised their price target on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Cantor Fitzgerald restated an “overweight” rating and set a $355.00 price target on shares of Tesla in a research note on Friday, October 3rd. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. Finally, Dbs Bank raised their target price on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $354.67.

Tesla Company 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.