Pegasus Asset Management Inc. Has $785,000 Stock Position in Tesla, Inc. $TSLA

Pegasus Asset Management Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,472 shares of the electric vehicle producer’s stock after purchasing an additional 46 shares during the period. Pegasus Asset Management Inc.’s holdings in Tesla were worth $785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Means Investment CO. Inc. grew its position 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 buying an additional 6,323 shares in the last quarter. Siren L.L.C. acquired a new stake in shares of Tesla during the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC grew its holdings in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares in the last quarter. Keystone Global Partners LLC acquired a new stake in shares of Tesla during the 1st quarter worth approximately $594,000. Finally, Strs Ohio acquired a new stake in shares of Tesla during the 1st quarter worth approximately $205,495,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Up 5.4%

Shares of TSLA opened at $435.90 on Tuesday. The company has a market capitalization of $1.45 trillion, a P/E ratio of 251.97, a PEG ratio of 14.92 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The business’s 50 day simple moving average is $378.50 and its 200-day simple moving average is $329.48.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during 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%.Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. 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 news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last 90 days. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Glj Research reissued a “sell” rating on shares of Tesla in a report on Thursday, July 24th. CICC Research lifted their target price on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a report on Friday, September 26th. William Blair reaffirmed a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Finally, Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $363.03.

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.