Cooper Financial Group Has $15.65 Million Stake in Tesla, Inc. $TSLA

Cooper Financial Group grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.2% in the third quarter, Holdings Channel reports. The institutional investor owned 35,187 shares of the electric vehicle producer’s stock after purchasing an additional 1,726 shares during the period. Tesla accounts for approximately 1.7% of Cooper Financial Group’s holdings, making the stock its 14th biggest position. Cooper Financial Group’s holdings in Tesla were worth $15,649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Tesla by 1.8% in 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 acquiring an additional 4,502,976 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after purchasing an additional 1,269,304 shares in the last quarter. Norges Bank bought a new stake in shares of Tesla in the 2nd quarter worth about $11,839,824,000. Legal & General Group Plc increased its position in shares of Tesla by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after purchasing an additional 1,134,678 shares in the last quarter. Finally, Amundi lifted its holdings in Tesla by 20.4% during the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock valued at $6,374,284,000 after purchasing an additional 3,422,270 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $483.37 on Friday. The firm has a fifty day moving average of $438.62 and a two-hundred day moving average of $379.59. 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 capitalization of $1.61 trillion, a price-to-earnings ratio of 322.25, a PEG ratio of 11.68 and a beta of 1.87. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $495.28.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the sale, the director owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction on Monday, December 8th. The stock was 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 in the company, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Melius initiated coverage on Tesla in a report on Monday, October 13th. They set a “buy” rating and a $520.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Cantor Fitzgerald set a $510.00 price objective on shares of Tesla and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, BNP Paribas Exane assumed coverage on shares of Tesla in a research note on Thursday, October 16th. They set an “underperform” rating and a $307.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $402.25.

Tesla 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.