Groupama Asset Managment Boosts Stock Position in Tesla, Inc. $TSLA

Groupama Asset Managment increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,346 shares of the electric vehicle producer’s stock after purchasing an additional 9,771 shares during the quarter. Groupama Asset Managment’s holdings in Tesla were worth $44,895,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tesla during the 4th quarter valued at approximately $56,600,000. Means Investment CO. Inc. raised its holdings in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. boosted its position in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after purchasing an additional 670 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock valued at $153,436,000 after purchasing an additional 46,087 shares during the last quarter. Finally, Keystone Global Partners LLC purchased a new position in shares of Tesla in the first quarter valued at $594,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ TSLA opened at $335.16 on Tuesday. The company’s fifty day moving average is $320.95 and its two-hundred day moving average is $304.09. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 193.73, a P/E/G ratio of 11.49 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 599,724 shares of company stock valued at $213,126,501. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TSLA shares. JPMorgan Chase & Co. cut their target price on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 23rd. Canaccord Genuity Group lifted their price objective on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Bank of America increased their target price on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Robert W. Baird reissued a “neutral” rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Finally, HSBC restated a “reduce” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $303.31.

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.