Tesla, Inc. $TSLA is Bamco Inc. NY’s Largest Position

Bamco Inc. NY cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.4% during the second quarter, Holdings Channel reports. The institutional investor owned 13,018,798 shares of the electric vehicle producer’s stock after selling 1,194,335 shares during the quarter. Tesla makes up approximately 11.2% of Bamco Inc. NY’s investment portfolio, making the stock its biggest position. Bamco Inc. NY’s holdings in Tesla were worth $4,135,551,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TSLA. LGT Financial Advisors LLC bought a new position in shares of Tesla during the second quarter valued at approximately $29,000. CoreFirst Bank & Trust purchased a new stake in shares of Tesla in the 2nd quarter worth approximately $30,000. ESL Trust Services LLC increased its position in Tesla by 1,900.0% during the 2nd quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 95 shares in the last quarter. Chelsea Counsel Co. raised its stake in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Finally, Evergreen Private Wealth LLC boosted its holdings in Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 81 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares of the company’s stock, valued at $6,107,145.01. The trade was a 16.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 119,457 shares of company stock worth $52,137,945. 19.90% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA opened at $458.96 on Friday. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The business has a fifty day moving average of $435.52 and a 200 day moving average of $376.19. 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 firm has a market capitalization of $1.53 trillion, a P/E ratio of 305.97, a PEG ratio of 15.09 and a beta of 1.87.

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

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Morgan Stanley set a $425.00 price target on Tesla and gave the company an “equal weight” rating in a report on Sunday, December 7th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. Melius began coverage on shares of Tesla in a report on Monday, October 13th. They issued a “buy” rating and a $520.00 target price for the company. Canaccord Genuity Group cut their price target on shares of Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Finally, Mizuho set a $475.00 price objective on shares of Tesla and gave the stock an “outperform” rating in a report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $399.33.

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.