Twin Capital Management Inc. Acquires 527 Shares of Tesla, Inc. $TSLA

Twin Capital Management Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,092 shares of the electric vehicle producer’s stock after buying an additional 527 shares during the quarter. Tesla accounts for approximately 1.4% of Twin Capital Management Inc.’s holdings, making the stock its 10th biggest holding. Twin Capital Management Inc.’s holdings in Tesla were worth $13,371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new stake in Tesla in the first quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC raised its stake in Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after acquiring an additional 6,435,598 shares in the last quarter. Amundi lifted its holdings in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Tesla by 1.5% in the 1st 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 in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 4.0%

Shares of NASDAQ TSLA opened at $462.07 on Thursday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 308.05, a P/E/G ratio of 16.84 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The company’s 50 day simple moving average is $417.05 and its 200 day simple moving average is $352.68.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Mizuho increased their target price on shares of Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Roth Capital set a $505.00 price objective on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, October 23rd. The Goldman Sachs Group decreased their price target on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. New Street Research lifted their price objective on Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $391.08.

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.