Tesla, Inc. $TSLA Shares Purchased by Family Capital Management Inc.

Family Capital Management Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 16.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,688 shares of the electric vehicle producer’s stock after buying an additional 238 shares during the quarter. Family Capital Management Inc.’s holdings in Tesla were worth $536,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Siren L.L.C. purchased a new stake in Tesla in the 1st quarter valued at $2,332,000. Zuckerman Investment Group LLC grew its holdings in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after buying an additional 826 shares in the last quarter. Keystone Global Partners LLC purchased a new position in shares of Tesla during the 1st quarter worth $594,000. Strs Ohio purchased a new position in shares of Tesla during the 1st quarter worth $205,495,000. Finally, IFM Investors Pty Ltd grew its holdings in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after purchasing an additional 46,087 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $442.60 on Wednesday. The business has a 50-day moving average of $391.74 and a 200 day moving average of $336.26. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 255.84, a price-to-earnings-growth ratio of 16.08 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 (NASDAQ:TSLA) last announced its earnings results 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 firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated 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 in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last quarter. Corporate insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TSLA. Cantor Fitzgerald reiterated an “overweight” rating and set a $355.00 price target on shares of Tesla in a report on Tuesday. Royal Bank Of Canada increased their price target on Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Benchmark reiterated a “buy” rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Stifel Nicolaus set a $483.00 price target on Tesla and gave the stock a “buy” rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned 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 presently has an average rating of “Hold” and a consensus price target of $363.54.

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.