Chicago Partners Investment Group LLC Increases Stake in Tesla, Inc. $TSLA

Chicago Partners Investment Group LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,379 shares of the electric vehicle producer’s stock after purchasing an additional 483 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Tesla were worth $5,780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Siren L.L.C. purchased a new stake in shares of Tesla during the first quarter valued at $2,332,000. Zuckerman Investment Group LLC lifted its stake in Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares during the period. Keystone Global Partners LLC purchased a new stake in shares of Tesla during the 1st quarter valued at about $594,000. Strs Ohio bought a new stake in shares of Tesla in the first quarter worth approximately $205,495,000. Finally, IFM Investors Pty Ltd raised its holdings in shares of Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock valued at $153,436,000 after purchasing an additional 46,087 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $439.31 on Friday. The business has a 50-day simple moving average of $387.54 and a two-hundred day simple moving average of $333.60. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.94, a PEG ratio of 15.79 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were 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 $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last three months. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research reports. Guggenheim restated a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Canaccord Genuity Group raised their price target on Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a report on Wednesday. Industrial Alliance Securities set a $300.00 target price on Tesla in a research report on Monday, October 13th. Finally, Royal Bank Of Canada boosted their price target on Tesla from $325.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $363.54.

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.