JAT Capital Mgmt LP Invests $10.86 Million in Tesla, Inc. $TSLA

JAT Capital Mgmt LP bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 34,200 shares of the electric vehicle producer’s stock, valued at approximately $10,864,000. Tesla comprises about 35.5% of JAT Capital Mgmt LP’s investment portfolio, making the stock its largest holding.

Several other large investors have also made changes to their positions in the company. Holos Integrated Wealth LLC raised its holdings in shares of Tesla by 10.8% during the 2nd quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer’s stock valued at $102,000 after purchasing an additional 30 shares in the last quarter. First Merchants Corp increased its position in Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after buying an additional 31 shares during the last quarter. Kaye Capital Management raised its holdings in Tesla by 3.1% during the second quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer’s stock valued at $333,000 after buying an additional 31 shares in the last quarter. Spectrum Wealth Advisory Group LLC raised its position in shares of Tesla by 3.4% during the second quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer’s stock valued at $299,000 after buying an additional 31 shares during the last quarter. Finally, Wambolt & Associates LLC lifted its stake in shares of Tesla by 1.0% in the second quarter. Wambolt & Associates LLC now owns 3,119 shares of the electric vehicle producer’s stock valued at $938,000 after buying an additional 31 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the transaction, the director owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 119,457 shares of company stock worth $52,137,945. Insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. Bank of America upped their price target on Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. Barclays reissued a “neutral” rating and issued a $350.00 price target on shares of Tesla in a report on Monday, December 1st. Finally, UBS Group reissued a “sell” rating on shares of Tesla in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $399.33.

Tesla Price Performance

Shares of TSLA stock opened at $446.83 on Friday. The firm has a market cap of $1.49 trillion, a price-to-earnings ratio of 297.89, a PEG ratio of 15.21 and a beta of 1.87. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $434.93 and a 200 day moving average price of $375.36.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping 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 earned $0.72 EPS. Tesla’s revenue was up 11.6% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.