Panagora Asset Management Inc. Buys 74,976 Shares of Tesla, Inc. $TSLA

Panagora Asset Management Inc. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 818,670 shares of the electric vehicle producer’s stock after acquiring an additional 74,976 shares during the period. Tesla makes up 1.2% of Panagora Asset Management Inc.’s investment portfolio, making the stock its 12th biggest position. Panagora Asset Management Inc.’s holdings in Tesla were worth $260,059,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after purchasing an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC lifted its position in Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after buying an additional 1,269,304 shares during the last quarter. Norges Bank purchased a new stake in Tesla in the second quarter worth approximately $11,839,824,000. Goldman Sachs Group Inc. grew its position in Tesla by 322.1% during 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 acquiring an additional 20,291,139 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Tesla by 5.9% during the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after acquiring an additional 1,134,678 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TSLA. UBS Group reaffirmed a “sell” rating on shares of Tesla in a research note on Friday, November 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research note on Thursday, October 23rd. The Goldman Sachs Group decreased their price objective on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Dbs Bank upgraded Tesla to a “hold” rating in a report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $394.03.

Tesla Price Performance

Shares of TSLA stock opened at $430.10 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. 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 cap of $1.43 trillion, a P/E ratio of 286.73, a P/E/G ratio of 16.84 and a beta of 2.06. The business’s 50 day moving average price is $433.95 and its 200-day moving average price is $369.34.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were 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 directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 82,606 shares of company stock valued at $33,554,102. Company insiders own 19.90% of the company’s stock.

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.