Creekside Partners Purchases Shares of 2,406 Tesla, Inc. (NASDAQ:TSLA)

Creekside Partners acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,406 shares of the electric vehicle producer’s stock, valued at approximately $476,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Jones Financial Companies Lllp grew its position in Tesla by 46.3% in the fourth quarter. Jones Financial Companies Lllp now owns 6,296 shares of the electric vehicle producer’s stock worth $1,564,000 after acquiring an additional 1,993 shares in the last quarter. Peapack Gladstone Financial Corp boosted its holdings in shares of Tesla by 6.4% in the 4th quarter. Peapack Gladstone Financial Corp now owns 18,771 shares of the electric vehicle producer’s stock worth $4,666,000 after purchasing an additional 1,135 shares during the period. Edge Capital Group LLC increased its position in shares of Tesla by 17.9% during the 4th quarter. Edge Capital Group LLC now owns 1,195 shares of the electric vehicle producer’s stock valued at $297,000 after purchasing an additional 181 shares during the last quarter. Capital International Ltd. CA raised its holdings in Tesla by 0.8% during the 4th quarter. Capital International Ltd. CA now owns 275,997 shares of the electric vehicle producer’s stock valued at $68,580,000 after buying an additional 2,143 shares during the period. Finally, Capital International Sarl lifted its position in Tesla by 11.6% in the fourth quarter. Capital International Sarl now owns 305,164 shares of the electric vehicle producer’s stock worth $75,827,000 after buying an additional 31,842 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Robert W. Baird restated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, June 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $224.00 price target on shares of Tesla in a report on Wednesday, September 25th. New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a report on Wednesday, July 24th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research note on Thursday, September 5th. 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’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $209.90.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 over the last 90 days. 25.10% of the stock is currently owned by company insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $258.02 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The firm has a market capitalization of $824.28 billion, a P/E ratio of 65.82, a PEG ratio of 7.08 and a beta of 2.29. The company has a 50 day moving average price of $222.33 and a 200 day moving average price of $200.24.

Tesla (NASDAQ:TSLA) last issued its 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 firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.78 EPS. Sell-side analysts expect that Tesla, Inc. will post 1.75 EPS 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.