Princeton Global Asset Management LLC Has $263,000 Stock Position in Tesla, Inc. $TSLA

Princeton Global Asset Management LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 37.3% during the second quarter, HoldingsChannel.com reports. The firm owned 829 shares of the electric vehicle producer’s stock after buying an additional 225 shares during the period. Princeton Global Asset Management LLC’s holdings in Tesla were worth $263,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. lifted its stake in shares of Tesla by 322.1% in the 1st 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 purchasing an additional 20,291,139 shares during the period. Nuveen LLC bought a new stake in shares of Tesla in the 1st quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC increased its position in shares of Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after buying an additional 6,435,598 shares in the last quarter. Amundi increased its position in shares of Tesla by 29.4% in the 1st 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, Vanguard Group Inc. increased its position in shares of Tesla by 1.5% in the 1st 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. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent analyst reports. William Blair restated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Dbs Bank increased their target price on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. JPMorgan Chase & Co. increased their target price on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Mizuho increased their target price on Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, September 23rd. Finally, BNP Paribas Exane assumed coverage on Tesla in a report on Thursday, October 16th. They set an “underperform” rating and a $307.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $363.54.

Tesla Trading Up 1.8%

Tesla stock opened at $447.43 on Tuesday. The firm has a 50-day moving average of $389.71 and a 200-day moving average of $335.51. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.49 trillion, a price-to-earnings ratio of 258.63, a P/E/G ratio of 15.79 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts expect 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.