Tesla, Inc. $TSLA Position Increased by Zullo Investment Group Inc.

Zullo Investment Group Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,851 shares of the electric vehicle producer’s stock after buying an additional 349 shares during the period. Tesla comprises about 1.4% of Zullo Investment Group Inc.’s portfolio, making the stock its 10th biggest position. Zullo Investment Group Inc.’s holdings in Tesla were worth $3,447,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSLA. Vanguard Group Inc. increased its stake in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after purchasing an additional 849,091 shares during the last quarter. Amundi increased its stake in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA opened at $413.49 on Friday. 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 stock has a market capitalization of $1.37 trillion, a P/E ratio of 239.01, a P/E/G ratio of 15.01 and a beta of 2.08. The company’s fifty day moving average is $375.97 and its two-hundred day moving average is $327.89. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during 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 business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Wedbush increased their price target on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $320.00 to $548.00 in a report on Friday, September 19th. Royal Bank Of Canada increased their price objective on Tesla from $325.00 to $500.00 and gave the company an “outperform” rating in a report on Friday. Finally, Morgan Stanley reissued an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $354.67.

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.