Tesla, Inc. (NASDAQ:TSLA) Stake Lifted by Coatue Management LLC

Coatue Management LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 5.6% during the second quarter, HoldingsChannel reports. The firm owned 1,717,477 shares of the electric vehicle producer’s stock after purchasing an additional 91,552 shares during the period. Tesla comprises 4.6% of Coatue Management LLC’s holdings, making the stock its 4th biggest position. Coatue Management LLC’s holdings in Tesla were worth $1,167,369,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TSLA. NZS Capital LLC purchased a new position in shares of Tesla during the 2nd quarter worth $9,359,000. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Tesla by 50.7% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,391 shares of the electric vehicle producer’s stock worth $9,612,000 after acquiring an additional 4,841 shares during the period. Geode Capital Management LLC raised its holdings in Tesla by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 12,311,100 shares of the electric vehicle producer’s stock valued at $8,342,557,000 after buying an additional 339,745 shares during the period. Federated Hermes Inc. raised its holdings in Tesla by 61.3% in the 1st quarter. Federated Hermes Inc. now owns 29,728 shares of the electric vehicle producer’s stock valued at $19,857,000 after buying an additional 11,299 shares during the period. Finally, Brookstone Capital Management purchased a new stake in Tesla in the 2nd quarter valued at about $7,747,000. Institutional investors own 40.28% of the company’s stock.

Several analysts recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Tesla from $590.00 to $660.00 and gave the company an “equal weight” rating in a report on Tuesday, July 27th. Sanford C. Bernstein boosted their price objective on shares of Tesla from $180.00 to $300.00 and gave the company an “underperform” rating in a report on Tuesday, August 17th. Roth Capital restated a “neutral” rating on shares of Tesla in a report on Tuesday, July 27th. Tudor Pickering started coverage on Tesla in a research report on Thursday, September 23rd. They issued a “sell” rating and a $537.00 target price for the company. Finally, Tudor, Pickering, Holt & Co. started coverage on Tesla in a research report on Thursday, September 23rd. They issued a “sell” rating and a $537.00 target price for the company. Ten analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $616.89.

In other news, SVP Andrew D. Baglino sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, July 27th. The stock was sold at an average price of $663.38, for a total value of $995,070.00. Following the transaction, the senior vice president now directly owns 19,497 shares in the company, valued at approximately $12,933,919.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Zachary Kirkhorn sold 1,250 shares of the stock in a transaction dated Monday, July 19th. The shares were sold at an average price of $629.73, for a total value of $787,162.50. Following the completion of the sale, the chief financial officer now owns 55,507 shares of the company’s stock, valued at approximately $34,954,423.11. The disclosure for this sale can be found here. Insiders have sold 85,698 shares of company stock valued at $61,747,994 in the last 90 days. Company insiders own 25.00% of the company’s stock.

Shares of Tesla stock traded up $6.06 during trading hours on Thursday, hitting $817.14. 270,850 shares of the company were exchanged, compared to its average volume of 27,323,652. Tesla, Inc. has a 1 year low of $379.11 and a 1 year high of $900.40. The company has a current ratio of 1.51, a quick ratio of 1.22 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average of $741.19 and a 200-day moving average of $684.91. The stock has a market capitalization of $808.98 billion, a price-to-earnings ratio of 425.26, a P/E/G ratio of 6.20 and a beta of 1.95.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Sunday, July 25th. The electric vehicle producer reported $1.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.93. Tesla had a return on equity of 9.75% and a net margin of 5.21%. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.39 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. As a group, research analysts anticipate that Tesla, Inc. will post 3.39 earnings per share for the current fiscal year.

Tesla Profile

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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