Tesla, Inc. $TSLA is Viewpoint Capital Management LLC’s 7th Largest Position

Viewpoint Capital Management LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,613 shares of the electric vehicle producer’s stock after buying an additional 176 shares during the period. Tesla comprises 2.9% of Viewpoint Capital Management LLC’s portfolio, making the stock its 7th biggest holding. 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 and hedge funds have also made changes to their positions in TSLA. Brighton Jones LLC boosted its holdings in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after acquiring an additional 931 shares during the last quarter. Bison Wealth LLC lifted its holdings in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after acquiring an additional 3,558 shares during the last quarter. Congress Asset Management Co. acquired a new position in Tesla in the first quarter valued at approximately $315,000. Finally, NewSquare Capital LLC lifted its holdings in Tesla by 146.5% in the first quarter. NewSquare Capital LLC now owns 954 shares of the electric vehicle producer’s stock valued at $247,000 after acquiring an additional 567 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TSLA shares. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a report on Friday, September 26th. Stifel Nicolaus set a $440.00 price objective on Tesla in a report on Friday, September 5th. Piper Sandler upped their price objective on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Benchmark reiterated a “buy” rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Dbs Bank upped their price target on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $344.40.

Tesla Trading Down 4.4%

NASDAQ:TSLA opened at $433.09 on Wednesday. The stock has a fifty day moving average price of $368.81 and a 200 day moving average price of $324.77. 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 12-month low of $212.11 and a 12-month high of $488.54. The firm has a market cap of $1.44 trillion, a PE ratio of 250.34, a price-to-earnings-growth ratio of 15.75 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly 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). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was 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. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last quarter. Corporate insiders own 19.90% of the company’s stock.

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.