Neuberger Berman Group LLC Purchases 140,930 Shares of Tesla, Inc. $TSLA

Neuberger Berman Group LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 51.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 417,259 shares of the electric vehicle producer’s stock after buying an additional 140,930 shares during the quarter. Neuberger Berman Group LLC’s holdings in Tesla were worth $132,546,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chapman Financial Group LLC acquired a new stake in Tesla in the 2nd quarter valued at $26,000. LGT Financial Advisors LLC bought a new position in shares of Tesla in the second quarter valued at $29,000. CoreFirst Bank & Trust acquired a new position in shares of Tesla during the second quarter valued at about $30,000. ESL Trust Services LLC grew its holdings in shares of Tesla by 1,900.0% during the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 95 shares during the last quarter. Finally, Delos Wealth Advisors LLC acquired a new stake in shares of Tesla in the 2nd quarter worth about $32,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares in the company, valued at $6,107,145.01. This trade represents a 16.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. The trade was a 3.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. Melius Research set a $520.00 price target on Tesla and gave the company a “buy” rating in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tesla in a report on Thursday, October 30th. BNP Paribas raised their price objective on Tesla from $307.00 to $313.00 in a research note on Monday, December 1st. The Goldman Sachs Group cut their price objective on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Finally, China Renaissance raised their price target on shares of Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $399.33.

Tesla Trading Up 2.7%

NASDAQ TSLA opened at $458.96 on Monday. The business’s fifty day moving average is $435.52 and its 200-day moving average is $376.42. 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 stock has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 305.97, a PEG ratio of 15.50 and a beta of 1.87. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) 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 6.61%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 earnings per share. Equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla Company 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.