Petix & Botte Co Takes Position in Tesla, Inc. $TSLA

Petix & Botte Co purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 660 shares of the electric vehicle producer’s stock, valued at approximately $210,000.

Several other hedge funds also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. boosted 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. Nuveen LLC purchased a new stake in Tesla in the first quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC raised its position in 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 valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the last quarter. Amundi increased its position in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, 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 directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’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 directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TSLA shares. Mizuho upped their price target on shares of Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. President Capital boosted their price objective on Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. BNP Paribas Exane began coverage on shares of Tesla in a report on Thursday, October 16th. They set an “underperform” rating and a $307.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and ten have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $391.08.

Tesla Trading Down 2.1%

NASDAQ:TSLA opened at $430.60 on Thursday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 287.07, a PEG ratio of 16.84 and a beta of 2.06. The business has a fifty day moving average of $427.33 and a 200-day moving average of $359.18. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share 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.