Catalina Capital Group LLC Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Catalina Capital Group LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 12.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,703 shares of the electric vehicle producer’s stock after buying an additional 761 shares during the period. Catalina Capital Group LLC’s holdings in Tesla were worth $1,326,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its position in shares of Tesla by 5.0% in the fourth quarter. International Assets Investment Management LLC now owns 24,963 shares of the electric vehicle producer’s stock valued at $6,203,000 after purchasing an additional 1,189 shares during the last quarter. OLD National Bancorp IN grew its position in shares of Tesla by 18.2% in the fourth quarter. OLD National Bancorp IN now owns 13,977 shares of the electric vehicle producer’s stock valued at $3,473,000 after purchasing an additional 2,148 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $310,000. Monument Capital Management grew its position in shares of Tesla by 11.9% in the fourth quarter. Monument Capital Management now owns 1,057 shares of the electric vehicle producer’s stock valued at $263,000 after purchasing an additional 112 shares during the last quarter. Finally, RWA Wealth Partners LLC grew its position in shares of Tesla by 1,075.1% in the fourth quarter. RWA Wealth Partners LLC now owns 28,836 shares of the electric vehicle producer’s stock valued at $7,165,000 after purchasing an additional 26,382 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $9.66 during midday trading on Friday, reaching $220.32. The company’s stock had a trading volume of 81,303,680 shares, compared to its average volume of 98,612,938. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The company has a 50 day moving average price of $219.46 and a 200 day moving average price of $192.09. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market cap of $702.64 billion, a price-to-earnings ratio of 56.20, a price-to-earnings-growth ratio of 5.60 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 (EPS) 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 analyst estimates of $24.38 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts expect that Tesla, Inc. will post 1.79 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on TSLA shares. Royal Bank of Canada decreased their target price on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Glj Research increased their price target on shares of Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of Tesla in a research note on Monday, July 29th. Finally, Mizuho increased their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $204.21.

Insider Activity

In other news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

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.