Tesla, Inc. $TSLA Stock Position Increased by Shelton Capital Management

Shelton Capital Management increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 240,070 shares of the electric vehicle producer’s stock after purchasing an additional 750 shares during the quarter. Tesla makes up approximately 1.8% of Shelton Capital Management’s holdings, making the stock its 9th biggest holding. Shelton Capital Management’s holdings in Tesla were worth $76,261,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares during the period. Geode Capital Management LLC raised its holdings in shares of Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after buying an additional 1,269,304 shares during the period. Norges Bank purchased a new position in Tesla during the 2nd quarter valued at about $11,839,824,000. Goldman Sachs Group Inc. grew its position 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 valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Tesla by 5.9% during the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after purchasing an additional 1,134,678 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,606 shares of company stock valued at $33,554,102 in the last 90 days. 19.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. TD Cowen increased their target price on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Bank of America lifted their price objective on Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. China Renaissance boosted their price objective on Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a research report on Friday, October 24th. Finally, Evercore ISI boosted their target price on Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $394.03.

Tesla Stock Up 0.8%

Shares of NASDAQ:TSLA opened at $430.10 on Monday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is $433.95 and its 200-day simple moving average is $369.34. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 286.73, a PEG ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54.

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