Hillhouse Capital Management LTD. Buys Shares of 147,700 Tesla Inc (NASDAQ:TSLA)

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Hillhouse Capital Management LTD. bought a new stake in Tesla Inc (NASDAQ:TSLA) during the 2nd quarter, Holdings Channel.com reports. The fund bought 147,700 shares of the electric vehicle producer’s stock, valued at approximately $33,005,000. Tesla accounts for about 1.1% of Hillhouse Capital Management LTD.’s holdings, making the stock its 16th biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of TSLA. Clarus Wealth Advisors grew its stake in Tesla by 83.3% in the second quarter. Clarus Wealth Advisors now owns 110 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Trustcore Financial Services LLC grew its stake in Tesla by 121.8% in the second quarter. Trustcore Financial Services LLC now owns 122 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. AllSquare Wealth Management LLC purchased a new position in Tesla in the second quarter valued at about $28,000. Bedel Financial Consulting Inc. grew its stake in shares of Tesla by 197.7% during the second quarter. Bedel Financial Consulting Inc. now owns 128 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Finally, Coastal Capital Group Inc. purchased a new stake in Tesla in the second quarter valued at approximately $32,000. Institutional investors own 54.42% of the company’s stock.

In other news, Director Kathleen Wilson-Thompson acquired 360 shares of Tesla stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $221.71 per share, with a total value of $79,815.60. Following the purchase, the director now owns 360 shares in the company, valued at $79,815.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey B. Straubel sold 15,000 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $223.51, for a total value of $3,352,650.00. Following the completion of the transaction, the insider now directly owns 306,098 shares of the company’s stock, valued at $68,415,963.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,450 shares of company stock valued at $6,917,723. 24.40% of the stock is owned by corporate insiders.

Shares of TSLA stock opened at $240.62 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.06 and a quick ratio of 0.71. The company has a market cap of $43.62 billion, a price-to-earnings ratio of -42.07 and a beta of 0.54. The stock has a 50 day simple moving average of $229.22 and a 200-day simple moving average of $239.52. Tesla Inc has a 1-year low of $176.99 and a 1-year high of $379.49.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.55) by ($0.76). The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.44 billion. Tesla had a negative return on equity of 11.42% and a negative net margin of 2.64%. The company’s quarterly revenue was up 58.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($3.06) earnings per share. Analysts anticipate that Tesla Inc will post -7.51 earnings per share for the current fiscal year.

A number of brokerages have issued reports on TSLA. Cfra downgraded Tesla to a “sell” rating and set a $135.00 price target for the company. in a report on Friday, July 26th. Nomura set a $270.00 price target on Tesla and gave the company a “hold” rating in a report on Tuesday, September 3rd. Roth Capital reissued a “neutral” rating and issued a $238.00 price target on shares of Tesla in a report on Monday, July 22nd. BidaskClub raised Tesla from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Finally, Canaccord Genuity decreased their price target on Tesla from $394.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Eighteen research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $269.53.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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