Geode Capital Management LLC Boosts Stock Holdings in Tesla, Inc. $TSLA

Geode Capital Management LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,767,993 shares of the electric vehicle producer’s stock after buying an additional 1,269,304 shares during the period. Tesla accounts for 1.4% of Geode Capital Management LLC’s portfolio, making the stock its 8th biggest position. Geode Capital Management LLC owned approximately 2.01% of Tesla worth $20,480,477,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Chelsea Counsel Co. raised its stake in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. LGT Financial Advisors LLC bought a new stake in Tesla in the 2nd quarter worth about $29,000. Evergreen Private Wealth LLC lifted its stake in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares during the period. Glynn Capital Management LLC bought a new stake in shares of Tesla in the second quarter worth approximately $35,000. Finally, Pacific Center for Financial Services boosted its holdings in Tesla by 44.7% in the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock worth $39,000 after purchasing an additional 46 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Price Performance

Shares of TSLA stock opened at $439.62 on Wednesday. The company has a market capitalization of $1.46 trillion, a P/E ratio of 293.08, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company’s 50-day simple moving average is $425.40 and its two-hundred day simple moving average is $358.68.

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

Analysts Set New Price Targets

Several analysts recently issued reports on TSLA shares. TD Cowen boosted their target price on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. The Goldman Sachs Group dropped their price target on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and raised their price target for the company from $320.00 to $548.00 in a report on Friday, September 19th. Benchmark reaffirmed a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and eleven have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $391.08.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is currently owned by insiders.

Tesla 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.