Baker Avenue Asset Management LP Buys 19,074 Shares of Tesla, Inc. $TSLA

Baker Avenue Asset Management LP boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 28.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,683 shares of the electric vehicle producer’s stock after buying an additional 19,074 shares during the period. Baker Avenue Asset Management LP’s holdings in Tesla were worth $27,218,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Tesla in the 2nd quarter worth approximately $11,839,824,000. Nuveen LLC purchased a new position in shares of Tesla in the 1st quarter worth $3,247,619,000. Kingstone Capital Partners Texas LLC grew its stake in shares of Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Vanguard Group Inc. grew its position in Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after buying an additional 4,502,976 shares during the period. Finally, Amundi increased its stake in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Benchmark reaffirmed a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. Mizuho set a $475.00 price objective on shares of Tesla and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Finally, BNP Paribas lifted their target price on shares of Tesla from $307.00 to $313.00 in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $399.33.

Insider Activity

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were 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 directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 19.90% of the stock is currently owned by corporate insiders.

Tesla Stock Up 0.1%

Shares of TSLA opened at $455.00 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 303.33, a price-to-earnings-growth ratio of 15.37 and a beta of 1.87. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The business’s 50 day simple moving average is $434.93 and its 200-day simple moving average is $372.88.

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

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.