Tesla, Inc. (NASDAQ:TSLA) Stock Position Lifted by Beaton Management Co. Inc.

Beaton Management Co. Inc. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 35.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,181 shares of the electric vehicle producer’s stock after purchasing an additional 1,346 shares during the period. Beaton Management Co. Inc.’s holdings in Tesla were worth $1,025,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Strategic Financial Concepts LLC increased its position in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Tesla by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after acquiring an additional 1,402,443 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its holdings in Tesla by 60.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock worth $501,654,000 after purchasing an additional 1,072,366 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

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

Tesla Price Performance

TSLA stock opened at $243.92 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $777.91 billion, a PE ratio of 62.22, a P/E/G ratio of 6.00 and a beta of 2.29. The business’s fifty day moving average price is $221.50 and its 200 day moving average price is $195.49. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.93.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on TSLA. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a research report on Wednesday, July 24th. Guggenheim upped their price target on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Mizuho raised their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Finally, Argus reaffirmed a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $209.60.

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.