Sienna Gestion Purchases 405 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sienna Gestion increased its position in Tesla, Inc. (NASDAQ:TSLA) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,542 shares of the electric vehicle producer’s stock after buying an additional 405 shares during the quarter. Tesla accounts for 1.2% of Sienna Gestion’s portfolio, making the stock its 12th largest position. Sienna Gestion’s holdings in Tesla were worth $13,557,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TSLA. Integris Wealth Management LLC boosted its position in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the period. Echo Wealth Management LLC lifted its stake in shares of Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares in the last quarter. WASHINGTON TRUST Co boosted its holdings in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares during the period. Bellevue Asset Management LLC increased its stake in Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after buying an additional 45 shares in the last quarter. Finally, Cypress Capital Group raised its holdings in Tesla by 1.7% during the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.3 %

Shares of NASDAQ TSLA opened at $227.20 on Thursday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $273.93. The firm has a 50-day simple moving average of $221.44 and a two-hundred day simple moving average of $195.15. The company has a market cap of $725.82 billion, a P/E ratio of 57.96, a PEG ratio of 6.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. Research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TSLA. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, September 5th. Royal Bank of Canada cut their price objective on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Wedbush reiterated an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Stifel Nicolaus started coverage on shares of Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price for the company. Finally, Barclays cut their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $209.60.

Tesla 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.