VestGen Advisors LLC Increases Position in Tesla, Inc. $TSLA

VestGen Advisors LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.8% in the second quarter, HoldingsChannel.com reports. The firm owned 38,691 shares of the electric vehicle producer’s stock after buying an additional 3,772 shares during the quarter. VestGen Advisors LLC’s holdings in Tesla were worth $12,247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in Tesla in the 2nd quarter valued at $11,839,824,000. Goldman Sachs Group Inc. raised its position in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Nuveen LLC purchased a new position in Tesla during the first quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC grew its position in shares of Tesla by 581,880.5% in the second 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 purchasing an additional 6,435,598 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after purchasing an additional 4,502,976 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TSLA. Glj Research reissued a “sell” rating on shares of Tesla in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. Cantor Fitzgerald set a $510.00 price target on shares of Tesla and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Mizuho set a $475.00 price objective on shares of Tesla and gave the company an “outperform” rating in a research note on Tuesday. Finally, Bank of America raised their target price on shares of Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $394.03.

Insider Buying and Selling at Tesla

In related 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 value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,606 shares of company stock worth $33,554,102 over the last quarter. 19.90% of the stock is currently owned by company insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $430.10 on Friday. The company’s 50-day moving average is $433.95 and its two-hundred day moving average is $369.19. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 286.73, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.