Headlands Technologies LLC Has $8.23 Million Holdings in Tesla, Inc. $TSLA

Headlands Technologies LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 25,916 shares of the electric vehicle producer’s stock after selling 11,827 shares during the period. Tesla comprises approximately 1.0% of Headlands Technologies LLC’s portfolio, making the stock its 15th largest holding. Headlands Technologies LLC’s holdings in Tesla were worth $8,232,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Tesla during the second quarter worth about $11,839,824,000. Kingstone Capital Partners Texas LLC boosted its position in 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 worth $2,044,683,000 after buying an additional 6,435,598 shares during the period. Vanguard Group Inc. increased its position in Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares during the period. Amundi raised its stake in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of Tesla during the first quarter worth $469,339,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 2.7%

Tesla stock opened at $458.96 on Friday. The company has a market capitalization of $1.53 trillion, a PE ratio of 305.97, a PEG ratio of 15.50 and a beta of 1.87. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The firm’s fifty day moving average is $435.52 and its 200 day moving average is $376.29. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

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

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the transaction, the chief financial officer owned 13,757 shares in the company, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 119,457 shares of company stock valued at $52,137,945. 19.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Roth Capital set a $505.00 price objective on Tesla and gave the company a “buy” rating in a report on Thursday, October 23rd. Canaccord Genuity Group cut their price objective on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a research report on Monday, October 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, TD Cowen increased their price objective on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $399.33.

About Tesla

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.