Coatue Management LLC Has $1.17 Billion Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Coatue Management LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 5.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor 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 investment portfolio, making the stock its 4th biggest position. Coatue Management LLC owned approximately 0.17% of Tesla worth $1,167,369,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Clear Perspective Advisors LLC grew its position in Tesla by 85.7% in the 2nd quarter. Clear Perspective Advisors LLC now owns 1,146 shares of the electric vehicle producer’s stock worth $779,000 after purchasing an additional 529 shares in the last quarter. Intellectus Partners LLC grew its position in shares of Tesla by 2.5% during the 2nd quarter. Intellectus Partners LLC now owns 21,539 shares of the electric vehicle producer’s stock valued at $14,640,000 after acquiring an additional 530 shares during the period. Mirova grew its position in shares of Tesla by 16.2% during the 2nd quarter. Mirova now owns 1,335 shares of the electric vehicle producer’s stock valued at $907,000 after acquiring an additional 186 shares during the period. Covington Capital Management grew its position in shares of Tesla by 0.5% during the 2nd quarter. Covington Capital Management now owns 8,081 shares of the electric vehicle producer’s stock valued at $5,493,000 after acquiring an additional 42 shares during the period. Finally, Toroso Investments LLC grew its position in shares of Tesla by 69.1% during the 2nd quarter. Toroso Investments LLC now owns 42,424 shares of the electric vehicle producer’s stock valued at $28,836,000 after acquiring an additional 17,338 shares during the period. 40.28% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Andrew D. Baglino sold 1,005 shares of Tesla stock in a transaction dated Monday, September 27th. The shares were sold at an average price of $773.42, for a total transaction of $777,287.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Kirkhorn sold 1,250 shares of Tesla stock in a transaction dated Monday, July 19th. The shares were sold at an average price of $629.73, for a total transaction of $787,162.50. Following the transaction, the chief financial officer now directly owns 55,507 shares of the company’s stock, valued at $34,954,423.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,698 shares of company stock valued at $61,747,994. Corporate insiders own 25.00% of the company’s stock.

A number of research analysts have recently weighed in on TSLA shares. Sanford C. Bernstein increased their target price on shares of Tesla from $180.00 to $300.00 and gave the company an “underperform” rating in a research report on Tuesday, August 17th. Citigroup upped their price target on shares of Tesla from $175.00 to $209.00 and gave the company a “sell” rating in a research note on Wednesday, July 28th. Royal Bank of Canada upped their price target on shares of Tesla from $745.00 to $755.00 and gave the company a “sector perform” rating in a research note on Monday, October 4th. Needham & Company LLC restated a “sell” rating on shares of Tesla in a research note on Wednesday, October 6th. Finally, Robert W. Baird restated an “outperform” rating and set a $657.62 price target (down from $736.00) on shares of Tesla in a research note on Tuesday, July 27th. Ten equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $616.89.

Tesla stock traded up $6.06 during trading hours on Thursday, reaching $817.14. The stock had a trading volume of 270,850 shares, compared to its average volume of 27,323,652. The stock has a market cap of $808.98 billion, a PE ratio of 425.26, a PEG ratio of 6.20 and a beta of 1.95. Tesla, Inc. has a 52 week low of $379.11 and a 52 week high of $900.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.22. The company has a fifty day simple moving average of $741.19 and a 200-day simple moving average of $684.91.

Tesla (NASDAQ:TSLA) last posted its 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 net margin of 5.21% and a return on equity of 9.75%. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.39 billion. During the same period last year, the company posted $0.44 EPS. Research analysts predict that Tesla, Inc. will post 3.39 earnings per share for the current fiscal year.

About Tesla

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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