GAMMA Investing LLC Has $2.91 Million Position in Tesla, Inc. (NASDAQ:TSLA)

GAMMA Investing LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 48.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,682 shares of the electric vehicle producer’s stock after buying an additional 4,781 shares during the period. GAMMA Investing LLC’s holdings in Tesla were worth $2,905,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. Norges Bank bought a new stake in shares of Tesla during the 4th quarter valued at about $7,844,757,000. Charles Schwab Investment Management Inc. boosted its position in shares of Tesla by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after purchasing an additional 458,804 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA traded down $9.19 during trading hours on Friday, reaching $207.67. 82,880,120 shares of the stock traded hands, compared to its average volume of 126,158,848. The stock has a 50 day simple moving average of $210.01 and a two-hundred day simple moving average of $190.70. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $278.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a market cap of $663.43 billion, a price-to-earnings ratio of 52.98, a price-to-earnings-growth ratio of 5.37 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the business earned $0.78 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TSLA. Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 price target on shares of Tesla in a research note on Monday, July 1st. The Goldman Sachs Group dropped their price target on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Stifel Nicolaus began coverage on Tesla in a research note on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target on the stock. HSBC upped their price target on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Finally, China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research note on Friday, July 5th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $204.30.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,719 shares of company stock worth $32,032,968. Company insiders own 25.10% of the company’s stock.

Tesla Company 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.