Tesla, Inc. (NASDAQ:TSLA) Holdings Raised by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 1.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,019 shares of the electric vehicle producer’s stock after purchasing an additional 25 shares during the quarter. SignalPoint Asset Management LLC’s holdings in Tesla were worth $2,176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSLA. Norges Bank acquired a new position in Tesla during the 4th quarter valued at approximately $7,918,804,000. SG Americas Securities LLC boosted its position in Tesla by 100.9% during the 1st quarter. SG Americas Securities LLC now owns 42,728 shares of the electric vehicle producer’s stock valued at $46,044,000 after purchasing an additional 4,686,913 shares during the period. Banque Pictet & Cie SA boosted its position in Tesla by 38,084.4% during the 4th quarter. Banque Pictet & Cie SA now owns 1,494,920 shares of the electric vehicle producer’s stock worth $1,579,802,000 after acquiring an additional 1,491,005 shares during the period. State Street Corp boosted its position in Tesla by 4.0% during the 4th quarter. State Street Corp now owns 32,465,720 shares of the electric vehicle producer’s stock worth $34,309,124,000 after acquiring an additional 1,235,579 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Tesla by 3,344.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 616,255 shares of the electric vehicle producer’s stock worth $659,544,000 after acquiring an additional 598,366 shares during the period. Institutional investors and hedge funds own 40.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TSLA. Tudor, Pickering, Holt & Co. upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Tuesday, May 17th. Bank of America upped their price objective on Tesla from $900.00 to $950.00 and gave the company a “neutral” rating in a report on Thursday, July 21st. Wells Fargo & Company upped their price objective on Tesla from $820.00 to $830.00 and gave the company an “equal weight” rating in a report on Thursday, July 21st. Royal Bank of Canada upgraded Tesla from a “sector perform” rating to an “outperform” rating and cut their price objective for the company from $1,175.00 to $1,100.00 in a report on Monday, June 13th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $801.00 price objective on shares of Tesla in a report on Wednesday, July 13th. Eight research analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $859.50.

Insider Buying and Selling at Tesla

In other Tesla news, CAO Vaibhav Taneja sold 1,518 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $718.31, for a total value of $1,090,394.58. Following the transaction, the chief accounting officer now directly owns 26,449 shares in the company, valued at approximately $18,998,581.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kathleen Wilson-Thompson sold 8,750 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $904.00, for a total value of $7,910,000.00. Following the transaction, the director now directly owns 1,800 shares in the company, valued at approximately $1,627,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Vaibhav Taneja sold 1,518 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $718.31, for a total value of $1,090,394.58. Following the completion of the transaction, the chief accounting officer now owns 26,449 shares in the company, valued at $18,998,581.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,239 shares of company stock worth $53,099,879. Insiders own 25.10% of the company’s stock.

Tesla Price Performance

Shares of TSLA traded down $61.39 during mid-day trading on Friday, reaching $864.51. The company had a trading volume of 37,724,299 shares, compared to its average volume of 29,954,900. Tesla, Inc. has a twelve month low of $620.57 and a twelve month high of $1,243.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.43 and a quick ratio of 1.06. The company’s 50-day moving average is $743.67 and its 200-day moving average is $842.10. The company has a market capitalization of $902.97 billion, a P/E ratio of 104.16, a P/E/G ratio of 2.80 and a beta of 2.17.

Tesla (NASDAQ:TSLAGet Rating) last issued its earnings results on Wednesday, July 20th. The electric vehicle producer reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.46. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The business had revenue of $16.93 billion during the quarter, compared to analysts’ expectations of $16.92 billion. During the same period in the prior year, the firm posted $1.02 EPS. Tesla’s quarterly revenue was up 41.6% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 10.58 EPS for the current year.

Tesla Company Profile

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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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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