Tesla, Inc. $TSLA Shares Purchased by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,025 shares of the electric vehicle producer’s stock after acquiring an additional 1,453 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Tesla were worth $5,419,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TSLA. GenTrust LLC lifted its holdings in Tesla by 10.6% in the 2nd quarter. GenTrust LLC now owns 27,513 shares of the electric vehicle producer’s stock worth $8,740,000 after buying an additional 2,644 shares in the last quarter. Opes Wealth Management LLC acquired a new position in shares of Tesla in the second quarter worth about $241,000. Guardian Asset Advisors LLC boosted its holdings in Tesla by 3.8% in the second quarter. Guardian Asset Advisors LLC now owns 5,159 shares of the electric vehicle producer’s stock valued at $1,639,000 after purchasing an additional 187 shares during the last quarter. Cornerstone Management Inc. acquired a new stake in Tesla during the 2nd quarter valued at approximately $294,000. Finally, CAP Partners LLC increased its holdings in Tesla by 16.2% during the 2nd quarter. CAP Partners LLC now owns 24,864 shares of the electric vehicle producer’s stock worth $7,898,000 after purchasing an additional 3,461 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Up 2.3%

NASDAQ TSLA opened at $448.98 on Friday. The company has a market capitalization of $1.49 trillion, a P/E ratio of 299.32, a PEG ratio of 15.78 and a beta of 2.08. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company’s 50 day simple moving average is $396.00 and its 200 day simple moving average is $338.45.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.72%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company posted $0.72 earnings per share. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TSLA shares. Truist Financial lifted their price target on shares of Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research note on Thursday. HSBC upped their price target on Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. JPMorgan Chase & Co. upped their price objective on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $380.97.

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.