Solstein Capital LLC Has $230,000 Stock Position in Tesla, Inc. $TSLA

Solstein Capital LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 58.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 725 shares of the electric vehicle producer’s stock after acquiring an additional 266 shares during the quarter. Solstein Capital LLC’s holdings in Tesla were worth $230,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. First Merchants Corp grew its holdings in Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after purchasing an additional 31 shares during the period. Alaska Wealth Advisors grew its holdings in Tesla by 3.4% during the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after purchasing an additional 32 shares during the period. KWB Wealth grew its holdings in Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after purchasing an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. grew its holdings in Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after purchasing an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. grew its holdings in Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last three months. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen lifted their price target on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. HSBC boosted their price objective on Tesla from $120.00 to $127.00 in a report on Monday, September 29th. Royal Bank Of Canada restated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a report on Thursday. Industrial Alliance Securities set a $300.00 price objective on Tesla in a report on Monday, October 13th. Finally, Mizuho boosted their price objective on Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned 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 a consensus target price of $381.00.

Tesla Trading Down 3.4%

Shares of TSLA stock opened at $433.72 on Monday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.44 trillion, a P/E ratio of 289.15, a price-to-earnings-growth ratio of 15.45 and a beta of 2.08. The stock has a 50 day simple moving average of $398.06 and a 200 day simple moving average of $341.21. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.