Amundi Acquires 3,422,270 Shares of Tesla, Inc. $TSLA

Amundi lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 20,194,152 shares of the electric vehicle producer’s stock after buying an additional 3,422,270 shares during the period. Tesla makes up about 2.2% of Amundi’s portfolio, making the stock its 5th largest position. Amundi’s holdings in Tesla were worth $6,374,284,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. LGT Financial Advisors LLC purchased a new stake in Tesla in the 2nd quarter valued at about $29,000. Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the period. Evergreen Private Wealth LLC boosted its holdings in shares of Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares during the last quarter. Glynn Capital Management LLC bought a new position in Tesla during the second quarter valued at about $35,000. Finally, LSV Asset Management increased its holdings in Tesla by 400.0% during the second quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 96 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,606 shares of company stock valued at $33,554,102 in the last ninety days. Company insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $454.53 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The stock has a market cap of $1.51 trillion, a P/E ratio of 303.02, a price-to-earnings-growth ratio of 15.09 and a beta of 1.87. The firm’s fifty day moving average price is $434.64 and its 200-day moving average price is $371.63. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TSLA. Stifel Nicolaus increased their target price on shares of Tesla from $483.00 to $508.00 and gave the company a “buy” rating in a research report on Monday, November 17th. China Renaissance increased their price objective on Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a report on Friday, October 24th. Wall Street Zen upgraded Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. JPMorgan Chase & Co. raised their price target on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Finally, BNP Paribas lifted their price target on Tesla from $307.00 to $313.00 in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have given a Hold rating and nine have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $398.92.

Tesla Company 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.