Corsair Capital Management L.P. Buys Shares of 2,137 Tesla, Inc. $TSLA

Corsair Capital Management L.P. purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,137 shares of the electric vehicle producer’s stock, valued at approximately $679,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Tesla in the first quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC increased its stake in Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the last quarter. Vanguard Group Inc. lifted its position in Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after buying an additional 4,502,976 shares during the period. Finally, Amundi grew its holdings in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TSLA shares. Weiss Ratings restated a “hold (c-)” rating on shares of Tesla in a report on Thursday, October 30th. TD Cowen lifted their target price on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Melius Research set a $520.00 price objective on Tesla and gave the stock a “buy” rating in a report on Monday, October 13th. New Street Research increased their target price on shares of Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, China Renaissance lifted their price target on shares of Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $394.03.

Tesla Stock Up 1.7%

NASDAQ TSLA opened at $426.58 on Friday. The stock has a market cap of $1.42 trillion, a PE ratio of 284.39, a P/E/G ratio of 16.84 and a beta of 2.06. The business has a 50 day moving average price of $433.87 and a two-hundred day moving average price of $368.17. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week 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.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,606 shares of company stock worth $33,554,102 over the last quarter. 19.90% of the stock is owned by corporate 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.