Cypress Capital Group Grows Holdings in Tesla, Inc. $TSLA

Cypress Capital Group grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,666 shares of the electric vehicle producer’s stock after buying an additional 167 shares during the period. Cypress Capital Group’s holdings in Tesla were worth $847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Goldman Sachs Group Inc. grew its stake in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new stake in shares of Tesla in the 1st quarter worth approximately $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after acquiring an additional 6,435,598 shares during the last quarter. Amundi lifted its holdings in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Tesla Stock Up 5.4%

Shares of NASDAQ TSLA opened at $435.90 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm has a market capitalization of $1.45 trillion, a PE ratio of 251.97, a price-to-earnings-growth ratio of 14.92 and a beta of 2.08. The firm has a fifty day simple moving average of $378.50 and a two-hundred day simple moving average of $329.48.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TSLA shares. Mizuho boosted their price objective on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, September 23rd. The Goldman Sachs Group boosted their price objective on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $355.00 price objective on shares of Tesla in a report on Friday, October 3rd. JPMorgan Chase & Co. increased their price target on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Finally, Canaccord Genuity Group increased their price target on shares of Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $363.03.

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.