55,407 Shares in Tesla, Inc. $TSLA Bought by SC US Ttgp LTD.

SC US Ttgp LTD. purchased a new stake in Tesla, Inc. (NASDAQ:TSLAFree Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 55,407 shares of the electric vehicle producer’s stock, valued at approximately $20,598,000. Tesla accounts for about 0.2% of SC US Ttgp LTD.’s holdings, making the stock its 14th largest position.

Several other institutional investors have also added to or reduced their stakes in the stock. Pennington Partners & CO. LLC raised its position in Tesla by 185.3% in the 1st quarter. Pennington Partners & CO. LLC now owns 2,713 shares of the electric vehicle producer’s stock valued at $1,008,000 after buying an additional 1,762 shares during the last quarter. GC Wealth Management RIA LLC grew its stake in shares of Tesla by 3.2% in the 1st quarter. GC Wealth Management RIA LLC now owns 110,410 shares of the electric vehicle producer’s stock worth $41,045,000 after acquiring an additional 3,410 shares in the last quarter. Klingman & Associates LLC grew its stake in shares of Tesla by 2.4% in the 1st quarter. Klingman & Associates LLC now owns 8,078 shares of the electric vehicle producer’s stock worth $3,003,000 after acquiring an additional 188 shares in the last quarter. Keebeck Wealth Management raised its holdings in shares of Tesla by 63.8% in the first quarter. Keebeck Wealth Management now owns 10,190 shares of the electric vehicle producer’s stock valued at $3,788,000 after purchasing an additional 3,969 shares during the last quarter. Finally, Siren L.L.C. lifted its position in shares of Tesla by 1,333.3% during the first quarter. Siren L.L.C. now owns 21,500 shares of the electric vehicle producer’s stock valued at $7,993,000 after purchasing an additional 20,000 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the transaction, the chief financial officer directly owned 18,106 shares in the company, valued at $8,147,700. This represents a 14.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the sale, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 32,015 shares of company stock worth $12,383,640. Insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TSLA. Wells Fargo & Company restated an “underweight” rating and issued a $130.00 target price (up from $125.00) on shares of Tesla in a research note on Tuesday, July 14th. BNP Paribas Exane downgraded Tesla from a “hold” rating to an “underperform” rating in a research report on Friday, June 5th. BTIG Research lowered Tesla to a “neutral” rating in a report on Friday, June 5th. Tigress Financial started coverage on Tesla in a research report on Monday, April 27th. They issued a “buy” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 target price (down from $510.00) on shares of Tesla in a research report on Thursday. Twenty-one research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $404.95.

Get Our Latest Stock Analysis on Tesla

Tesla Stock Down 2.1%

TSLA stock opened at $313.03 on Friday. The stock has a 50-day simple moving average of $400.74 and a two-hundred day simple moving average of $402.53. Tesla, Inc. has a twelve month low of $297.82 and a twelve month high of $498.83. The firm has a market capitalization of $1.18 trillion, a PE ratio of 289.85, a PEG ratio of 10.73 and a beta of 1.80. The company has a quick ratio of 1.62, a current ratio of 1.94 and a debt-to-equity ratio of 0.09.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The electric vehicle producer reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.17). Tesla had a net margin of 3.67% and a return on equity of 3.82%. The firm had revenue of $28.24 billion during the quarter, compared to the consensus estimate of $26.42 billion. During the same quarter last year, the business posted $0.33 earnings per share. Tesla’s revenue was up 25.5% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 1.34 EPS for the current fiscal year.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.

See Also

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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