Tritonpoint Wealth LLC Has $2.27 Million Position in Tesla, Inc. $TSLA

Tritonpoint Wealth LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,148 shares of the electric vehicle producer’s stock after acquiring an additional 304 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Tesla were worth $2,271,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TSLA. Vanguard Group Inc. increased its stake in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Tesla by 322.1% in the first 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 buying an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after buying an additional 849,091 shares in the last quarter. Amundi increased its stake in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after buying an additional 2,211,300 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,606 shares of company stock worth $77,360,462. Insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $440.40 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 1 year low of $212.11 and a 1 year high of $488.54. The stock has a market cap of $1.46 trillion, a P/E ratio of 254.57, a price-to-earnings-growth ratio of 15.36 and a beta of 2.06. The stock’s 50-day moving average price is $352.05 and its two-hundred day moving average price is $315.40.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (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 company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the business posted $0.52 EPS. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Royal Bank Of Canada restated a “buy” rating on shares of Tesla in a research note on Friday. CICC Research raised their target price on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Glj Research restated a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Guggenheim reiterated a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Finally, William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have given a Sell 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 $332.33.

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.