Generate Investment Management Ltd Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Generate Investment Management Ltd lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 74.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,222 shares of the electric vehicle producer’s stock after purchasing an additional 22,653 shares during the quarter. Generate Investment Management Ltd’s holdings in Tesla were worth $13,924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC raised its position in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. ARK Investment Management LLC lifted its stake in Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after buying an additional 412,872 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 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 value of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TSLA. TD Cowen increased their target price on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. William Blair began coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Stifel Nicolaus initiated coverage on shares of Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price on the stock. Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Thursday. Finally, Barclays reduced their price objective on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $210.72.

Tesla Stock Down 0.1 %

TSLA stock opened at $220.70 on Friday. The company has a market cap of $703.86 billion, a price-to-earnings ratio of 56.30, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29. The company has a fifty day moving average price of $227.67 and a 200 day moving average price of $205.12. 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, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00.

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

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.