Edmond DE Rothschild Holding S.A. Grows Position in Tesla, Inc. $TSLA

Edmond DE Rothschild Holding S.A. grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 16,544 shares of the electric vehicle producer’s stock after buying an additional 1,125 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Tesla were worth $5,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after acquiring an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC boosted its position in Tesla by 2.0% during the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after purchasing an additional 1,269,304 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Tesla by 322.1% in the first 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. Legal & General Group Plc increased its position in shares of Tesla by 5.9% in the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after buying an additional 1,134,678 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Tesla by 2.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 18,576,698 shares of the electric vehicle producer’s stock worth $5,901,074,000 after buying an additional 401,757 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value 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 approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 82,606 shares of company stock valued at $33,554,102. 19.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSLA. Piper Sandler lifted their price target on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Canaccord Genuity Group reduced their price target on shares of Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. New Street Research lifted their price objective on Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $394.03.

Tesla Price Performance

TSLA stock opened at $419.40 on Wednesday. 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 $1.39 trillion, a PE ratio of 279.60, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The business has a 50 day simple moving average of $433.66 and a 200-day simple moving average of $367.35.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.