Tesla, Inc. $TSLA is Gold Investment Management Ltd.’s 9th Largest Position

Gold Investment Management Ltd. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 68.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,075 shares of the electric vehicle producer’s stock after acquiring an additional 7,724 shares during the period. Tesla accounts for 2.2% of Gold Investment Management Ltd.’s holdings, making the stock its 9th biggest position. Gold Investment Management Ltd.’s holdings in Tesla were worth $5,736,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC lifted its position in Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank raised its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla in the first quarter worth $27,000. Newton One Investments LLC raised its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. raised its holdings in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction dated 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 in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 over the last 90 days. 19.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on TSLA shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $410.00 price target on shares of Tesla in a report on Thursday. Canaccord Genuity Group raised their price target on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Tesla from $115.00 to $150.00 in a report on Friday. CICC Research raised their target price on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $343.43.

Tesla Stock Down 1.4%

TSLA stock opened at $429.83 on Friday. The firm has a market cap of $1.43 trillion, a PE ratio of 248.46, a P/E/G ratio of 15.15 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm’s fifty day moving average is $364.02 and its 200 day moving average is $321.39. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54.

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

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.