AlTi Global Inc. Grows Stake in Tesla, Inc. $TSLA

AlTi Global Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 24.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,109 shares of the electric vehicle producer’s stock after purchasing an additional 7,846 shares during the quarter. AlTi Global Inc.’s holdings in Tesla were worth $12,733,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. First Merchants Corp raised its stake in Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after acquiring an additional 31 shares during the last quarter. Alaska Wealth Advisors raised its stake in Tesla by 3.4% in the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after acquiring an additional 32 shares during the last quarter. KWB Wealth raised its stake in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after acquiring an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. raised its stake in Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after acquiring an additional 34 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its stake in Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after acquiring an additional 34 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TSLA shares. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday. Roth Capital set a $505.00 target price on shares of Tesla and gave the company a “buy” rating in a research report on Thursday. Benchmark restated a “buy” rating on shares of Tesla in a research report on Thursday. Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a research report on Monday, October 13th. Finally, HSBC boosted their target price on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have issued a Hold rating and eleven have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $380.97.

Tesla Trading Up 2.3%

Shares of Tesla stock opened at $448.98 on Friday. The firm has a 50-day simple moving average of $396.00 and a two-hundred day simple moving average of $338.45. The company has a market cap of $1.49 trillion, a P/E ratio of 299.32, a price-to-earnings-growth ratio of 15.78 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.72%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was 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 of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last 90 days. Corporate insiders own 19.90% of the company’s stock.

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.