Spectrum Asset Management Inc. NB CA Grows Position in Tesla, Inc. $TSLA

Spectrum Asset Management Inc. NB CA increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.3% in the second quarter, Holdings Channel reports. The fund owned 978 shares of the electric vehicle producer’s stock after purchasing an additional 58 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Tesla were worth $311,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. Brighton Jones LLC lifted its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC raised its holdings in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares in the last quarter. Bison Wealth LLC raised its holdings in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after purchasing an additional 3,558 shares in the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Tesla by 23.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 16,154 shares of the electric vehicle producer’s stock worth $4,186,000 after purchasing an additional 3,100 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Tesla by 6.0% in the first quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock worth $9,812,000 after purchasing an additional 2,153 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $438.69 on Thursday. The business’s 50 day moving average price is $371.20 and its 200 day moving average price is $325.56. The firm has a market cap of $1.46 trillion, a P/E ratio of 253.58, a P/E/G ratio of 15.92 and a beta of 2.08. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. 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 (NASDAQ:TSLA) last issued its earnings results 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). The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on 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 owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 over the last quarter. Insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a report on Wednesday. Dbs Bank boosted their target price on shares of Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Tesla in a report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $345.70.

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.