EFG Asset Management Americas Corp. Has $5.39 Million Position in Tesla, Inc. (NASDAQ:TSLA)

EFG Asset Management Americas Corp. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 36.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 27,243 shares of the electric vehicle producer’s stock after purchasing an additional 7,319 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Tesla were worth $5,391,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bank & Trust Co purchased a new position in Tesla during the second quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla in the 4th quarter valued at $37,000. Kessler Investment Group LLC boosted its position in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the period. Aspect Partners LLC lifted its position in shares of Tesla by 121.3% during the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after purchasing an additional 114 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Tesla in the second quarter worth $42,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on TSLA shares. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. Stifel Nicolaus initiated coverage on Tesla in a research note on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target on the stock. Canaccord Genuity Group raised their price objective on Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research note on Tuesday. Nine research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $204.21.

Insider Transactions at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 25.10% of the stock is owned by corporate insiders.

Tesla Trading Down 8.4 %

Shares of NASDAQ TSLA traded down $19.44 during midday trading on Friday, hitting $210.73. The stock had a trading volume of 111,432,758 shares, compared to its average volume of 68,186,248. The firm has a market cap of $673.21 billion, a P/E ratio of 53.76, a price-to-earnings-growth ratio of 5.80 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company’s 50-day simple moving average is $224.47 and its 200 day simple moving average is $193.60.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

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.